Zenobē commits $100m to accelerate electric truck adoption in Australia

Zenobē has announced a $100 million investment to accelerate the rollout of zero-emission freight across Australia, aiming to significantly expand the country’s electric truck fleet and supporting infrastructure.

*Zenobē Mascot Hub, Australia’s first multi-user electric truck charging hub*

The funding comes at a pivotal moment for Australia’s freight sector. With around 1,000 heavy electric trucks currently on the road, Zenobē’s investment is expected to help double that number by the end of 2026. The timing aligns with a broader transition in the industry, as 56% of Australia’s truck fleet is now more than a decade old, prompting operators to consider replacement technologies.

Unlike traditional financing approaches, Zenobē’s commitment extends beyond vehicle procurement. The company will fund the full ecosystem required for electrification, including charging infrastructure, battery replacements, and deployment services. It will also provide upfront planning at no cost to operators, such as depot assessments, fleet and energy modelling, and tailored transition proposals.

The goal is to remove both financial and technical barriers that have slowed adoption. By offering end-to-end solutions, from design to optimisation, Zenobē aims to make electric fleets commercially viable from day one.

Despite growing momentum, the market remains in its early stages. Around 500 electric trucks were expected to be sold in 2024 alone – more than the total sold over the previous decade – highlighting both rapid progress and significant untapped potential.

A key focus of the investment is achieving total cost of ownership (TCO) parity with diesel vehicles. Zenobē plans to do this through long-term asset lifecycle management, access to low-cost capital, and expertise in designing cost-efficient charging infrastructure tailored to diverse fleet needs.

“The direction we set in the next five years will define the trajectory for the next two decades,” said Gareth Ridge, Country Director for Australia and New Zealand at Zenobē. “Our goal is simple: to make the transition total cost of ownership neutral so the sustainable choice is also the commercial one.”

The announcement also supports Zenobē’s broader global ambition to enable up to 4,000 electric commercial vehicles by the end of 2026.