Volvo Trucks North America and Volvo Financial Services are bringing the Volvo on Demand Truck-as-a-Service (Taas) financing model to the U.S. market electric trucks.

The goal is to simplify acquisition and reduce the up-front investment involved with procuring Class 8 VNR Electric trucks.

Volvo on Demand allows customers to make payments in terms as short as 12 months, with an option to bundle insurance and route planning and optimization guidance. They can also access consultations to find the best charging options and get the benefits of a Gold Contract for service.

“Volvo on Demandis the easiest way for customers to add a battery-electric truck to their fleet by providing the ability to test the technology and understand the requirements to operate an electric fleet without a substantial upfront investment,” said Charles Carter, vice-president, services and solutions, Volvo Financial Services.

“Volvo on Demand offers peace of mind to customers who are just beginning their electromobility journey, managing the unknowns and uncertainties of how to best run and scale electric trucks in their operations. We see this solution being exceptionally beneficial to many segments including drayage, regional haul, last-mile and smaller fleets, who are tasked with delivering more sustainable transportation solutions for their customers.”

“We have a number of customers who have expressed interest in adding the VNR Electric to their operation but want to understand how it will fit within their specific applications,” said Jared Ruiz, regional vice-president, Volvo Trucks North America.

“With Volvo on Demand through VFS, they can gain valuable experience before making large upfront capital investments. With Volvo on Demand customers can get a single truck or a few trucks with portable 50 kWh chargers to gain real world experience while making plans to scale, including accounting for potential lead times on charging infrastructure installation, with flexible payment terms. We see this program as the next evolution in scaling electromobility solutions by offering unmatched financial flexibility to our customers.”

The plan isn’t yet being offered to the Canadian market.