Why Electric Vehicles Will Disrupt the Mining Industry

The mining industry has traditionally been seen as one that is polluting and environmentally harmful, but the rise of electric mining vehicles in recent years has the potential to disrupt global mining and change public perception for good. The electrification of mining vehicles is still in its early stages, but many of the world's leading OEMs are releasing new electric vehicle models and are committing to make EVs a part of their long-term strategy.
Electric mining vehicles promise the elimination of local emissions as well as cheaper operating costs than ICE vehicles by saving on fuel, ventilation, and maintenance. However, battery-electric vehicles will also require large battery packs to meet their daily working demands and will therefore come at a hefty premium. Mines will require all the potential savings of EVs to outweigh these added costs and make the total cost of ownership (TCO) of an EV cheaper than a diesel machine. This is what will drive adoption of EVs within the industry moving forward.
This webinar will provide a deep dive into the costs and requirements of electric mining vehicles and highlight why they are expected to disrupt the mining industry. IDTechEx forecasts significant growth in the electric mining vehicle market to over US$23 billion in 2044.
In this webinar, IDTechEx will present research from its new "Electric Vehicles in Mining 2024-2044: Technologies, Players, and Forecasts" report, and discuss:
  • An overview of key mining vehicles
  • Advantages and barriers to electrification
  • Overview and developments of the electric haul truck market
  • Analysis of electric haul truck costs and potential savings
  • IDTechEx's outlook and conclusions