Iran-linked diesel price spike makes electric trucks cheaper than diesel in key EU markets, environmental group says

Dramatic spikes in diesel prices due to the ongoing Iran conflict have made electric trucks a more economical choice for businesses in six key European Union markets, according to a new analysis by Brussels-based environmental group Transport & Environment (T&E). The report, released on Monday, reveals that electric trucks purchased in 2026 could yield savings of up to €100,000 in the Netherlands, €85,000 in Germany, and €69,000 in Denmark over a five-year period compared to diesel vehicles.

In these markets, operators can recoup the higher initial cost of electric trucks within approximately two years.

T&E attributes the improved business case for electric trucks to the recent rise in diesel prices following the Iran-linked oil price surge. Although Europe's transition to electric trucks has been hindered by expensive purchase prices and inadequate charging infrastructure, the report examines total cost of ownership across nine EU countries and found that electric trucks are already cheaper to operate than diesel models in the Netherlands, Germany, Denmark, Sweden, France, and Belgium. These six markets account for 46% of EU heavy-truck registrations.

The analysis also highlights the competitive threat from Chinese electric truck manufacturers, with some models expected to be priced about 30% lower than their European counterparts. A Chinese-built electric truck is estimated to cost around €210,000, in contrast to €265,000 for a European equivalent. In Germany alone, operators could save an additional €34,000 over five years by opting for a Chinese-made electric truck.