By Mike Sheldrick, Senior Editor
Fleets might be the lowest hanging fruit of all for EV makers. After all, fleet vehicles are chosen and operated to minimize cost maximize return on invested capital. Eventually, the savings on fuel, maintenance, longer life ought to be a winning formula.
But for the startups aimed at fleets, particularly, the work truck segment the last few months have been tough sledding. Most recently, the gadfly short seller Hindenburg Research wrote a disparaging report on Lordstown Motors Corp. This was six months after it had released a similarly downbeat report on Nikola Motor Co. At both companies, the stock plunged. General Motors had planned to build Nikola’s Badger pickup. That deal died.
Another delivery vehicle startup, Workhorse Group, had appeared to be a shoo-in for a $6 billion contract to replace the U.S. Postal Service’s 30-year-old, 150,000 vehicle delivery fleet. But late last month, the contract went to Oshkosh Corporation where only 10% of the USPS fleet is planned to be electric. The announcement by Postmaster General Louis DeJoy cratered Workhorse’s stock and set off a political battle. Democrats are calling for investigations into the move by DeJoy, a Trump supporter who had been appointed in 2020, Last year, he had been accused of attempting to undermine the ability of the USPS to effectively deliver mail-in ballots.
Not everything in the pickup space is gloomy, however. Two other startups, Rivian Automotive Inc. and Tesla, Inc., say they are both on schedule to release their pickups this year. Their prices are likely to range well out of the zone that would make them attractive additions to a fleet.
But help may be on the way. A leading automotive supplier, Magna International, Inc., recently made an announcement, that — shall we say it? — could be revolutionary for pickups and light trucks.
Called eBeam, it replaces the solid rear axle and permits the pickup to be converted to a BEV powertrain system. 
According to a Magna release, “eBeam integrates with existing truck architectures, without requiring unique suspension, chassis, or brake systems. This approach presents an economical solution that helps bring new electrified trucks to market more quickly, while also preserving towing and payload capabilities.”
Magna is a top-tier OEM supplier, and it says that several OEMs have indicated interest in eBeam. That could dramatically reduce the price of EV pickups.
It seems likely that Magna or one of its competitors might offer a simple drop-in rear axle for existing trucks. There is already a small but flourishing EV conversion industry. While these are usually high-priced conversions for older classic vehicles, a development like this could make the price of converting in-service work trucks very attractive. Details of the Magna innovation are thus far scant, but we will maintain close attention.
For more details on this story, check out this excellent article in Motor Trend.
