Range, Battery size, Price, GVW, and Charging Infrastructure. These are the four numbers everyone quotes when comparing electric trucks — and honestly, they barely scratch the surface.
At ACG, we took a different approach. We broke the market down to 127 electric trims and variants, instead of comparing trucks at the model level. Two trucks can share the same badge and the same headline range. Yet they can behave completely differently on the ground. Our findings change how fleet owners and OEMs should look at this market.
It’s not battery size; it’s cost per kWh
During our fleet owner survey, one number stood out. 80% of fleet owners admitted they don’t really understand how to interpret battery size in kWh. But that didn’t stop them from asking a sharp question: “How much is this OEM charging me for every unit of battery capacity?”
This shift matters. Fleet buyers don’t want to become battery engineers. They want a number they can compare across OEMs, the same way they compare cost per liter of diesel. Cost per kWh of battery capacity is becoming a far more relevant metric than raw battery size.
Payload efficiency matters more than GVW
We kept seeing another pattern. Buyers fixate on GVW, but GVW alone tells you almost nothing about profitability. Payload efficiency matters more — it shows how much revenue-generating capacity you actually get once battery weight eats into load capacity.
You also can’t look at truck price in isolation. Read it alongside range efficiency instead. Together, these two numbers start revealing fleet profitability, the underlying engineering trade-offs, and your real operating cost over the vehicle’s life.
Power-to-weight ratio: critical for some, irrelevant for others
Segment-level analysis pays off here. Energy In Motion currently has the best power-to-weight ratio in our dataset. This spec matters for heavy electric trucks on long hauls or demanding terrain.
But here’s the catch. That same metric barely matters for pickups and mini trucks. A last-mile delivery mini truck runs short urban routes. It simply doesn’t need the same power-to-weight profile as a heavy hauler. Analyzing “electric trucks” as one category hides this insight. Breaking it down by application reveals it. We believe this is the real recipe for product planning: match the spec sheet to what the customer segment actually needs, not what looks impressive in a brochure.
Warranty: valued, but not a sales driver — and not in the way you’d expect
A high warranty score does not correlate with higher sales. But that doesn’t mean warranty is irrelevant.
Our survey revealed something more nuanced. Fleet owners tend to scrutinize warranty terms closely only after they’ve already bought the truck. It’s more of a post-purchase concern than a pre-purchase driver. Even this behavior isn’t uniform. It varies by truck type, application, and — most importantly — customer type. A large fleet running trucks 20 hours a day thinks about warranty very differently than a small owner-operator buying a single vehicle.
Mapping trucks to the application they’re actually built for
Now put it all together: range, cost per kWh, payload efficiency, power-to-weight, warranty behavior. The real value emerges when you map specific models and variants to the applications they genuinely suit. Ranking them on a single spec won’t get you there.
The data gets counterintuitive here. The truck with the longest range is not the sales leader, nor is it the payload leader. Range alone doesn’t predict commercial success.
Who’s shaping the market in 2025
On the OEM side, Euler Motors and Switch Mobility stood out in 2025. Both manufacturers actively launched new trucks aimed at mapping distinct customer and application segments. Neither tried to build one truck to serve everyone.
The takeaway
Electric truck buying decisions in India run far more segmented and application-specific than headline specs suggest. Fleet owners aren’t just buying a range number or a price tag. They’re implicitly buying into a cost structure, an operating profile, and a fit-for-purpose match. This only becomes visible once you go down to the variant level.
That’s exactly why we built our analysis at the trim level across 127 variants. At the model level, this story simply doesn’t show up.
