The trucking industry is a major sector in the US, yet it relies heavily on costly fuel that produces significant greenhouse gas emissions. Although electric trucks offer a viable alternative, their upfront costs can be two to three times higher than those of traditional freight trucks.
Even with anticipated price drops, a shift from existing vehicles will require ample time.
Robotics startup Revoy asserts that it has a groundbreaking solution that enables any truck to partially use electric power while on the road. Based in San Francisco, the company has developed a detachable unit featuring an electric motor and batteries that fits between the truck’s tractor and trailer.
Recently, Revoy secured $27 million in a Series A funding round aimed at scaling its operations.
When fully charged, Revoy’s electric dolly can haul an 80,000-pound truck for over 200 miles. The company’s vision includes creating a network of hubs along highways where truck drivers can effortlessly swap out for a fully charged unit.
Revoy estimates that this system could potentially reduce carbon emissions by as much as 85%.
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Revoy CEO Peter Reinhardt. Image: Manuel Orbegozo/Bloomberg
“Our technology allows you to compete with diesel on cost, something that other electric trucks in the US have yet to achieve,” said Peter Reinhardt, CEO of Revoy.
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Reinhardt, also at the helm of the carbon-removal company Charm Industrial Inc., pointed out that the operational costs for Revoy’s system would match those of running a truck on diesel, based on pre-war pricing in the US.
Currently, the average retail price of diesel in the US is about 40% higher than the pre-war cost of approximately $3.80 per gallon.
Revoy seeks to extend the lifespan of current diesel freight trucks, providing an alternative to the fully electric heavy-duty trucks being marketed by companies like Tesla Inc. and Volvo AB.
Despite rising diesel costs, sales of these vehicles in the US during the first half of this year have decreased compared to the same period last year, according to BloombergNEF.
However, sales might rise in the latter half of the year, with Tesla reporting a backlog of 1,200 orders as of May, based on a June report from a California voucher program.
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New companies are eyeing the freight truck market, projected to yield around $900 billion in revenue by 2024, as stated by the American Trucking Association.
In the US, 3 million registered heavy-duty trucks collectively cover approximately 60,000 miles annually, producing almost 300 million tons of carbon dioxide—about 6% of the nation’s total emissions—based on data compiled by Bloomberg. Fuel costs make up more than one-fifth of the operating expenses for these truck owners.
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Revoy’s concept is a promising initial step in addressing the rising costs of trucking while enhancing its environmental sustainability, as mentioned by Nikolas Soulopoulos, head of commercial transport at BloombergNEF.
“Seamless integration with the existing fleet is a major advantage,” Soulopoulos acknowledged, though he cautioned that increasing production of electric dollies in the US may face challenges due to constraints in battery supply.
Manufacturing opportunities outside the US are restricted by high tariffs set by the current administration.
Founded in 2020, Revoy gained regulatory approval from the National Highway Traffic Safety Administration in 2023 and successfully completed a year-long technical pilot with freight company Ryder System Inc. in the subsequent year.
A truck equipped with a Revoy plug-in device on the road in Indio, California. Image: Ethan Noah Roy/Bloomberg
A truck driver connects the brake, park, and electric cables to the Revoy plug-in device during a demonstration. Image: Ethan Noah Roy/Bloomberg
For its inaugural commercial project, the startup’s partners have acquired used diesel trucks, and Revoy is actively training their drivers to manage the electric dollies.
This year, Revoy plans to deploy four electric dollies, assembled from Chinese components, along a 200-mile route near Portland, Oregon.
With the newly acquired funding, Revoy intends to develop a more cost-effective second-generation electric dolly featuring a smaller battery while retaining the same range. The company expects to have numerous dollies in service by the end of next year.
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In total, Revoy has raised $41 million. The latest funding round was led by Standard Capital, with investments from Doerr Capital, Time Ventures, Y Combinator, and Leap Ventures.
According to Ian Rust, the chief technology officer and co-founder, Revoy’s technology is an embodiment of robotics, stemming from his previous experience at the self-driving startup Cruise, which was acquired by General Motors Co.
“Instead of removing the driver, we are leveraging robotics to transform the fuel source,” he clarified.
Revoy CTO Ian Rust. Image: Manuel Orbegozo/Bloomberg
Rust was inspired by the realm of collaborative robotics, similar to innovations like robotic exoskeletons that enable users to lift weights that far exceed their natural strength.
The electric dolly operates on a similar premise. When the driver accelerates, the diesel engine revs, propelling the truck forward.
At that instant, the dolly receives a command to activate its batteries and electric motor, diminishing the diesel engine’s firing rate. On the other hand, when the driver applies the brakes, the electric dolly uses regenerative braking, which harnesses the backward motion of the electric motor to recharge the battery.
While Revoy currently focuses on the US market, Rust envisions a future where this technology could be implemented globally.
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