BEVs are at a financial ‘tipping point’ with diesel equipment: BEVs are generally competitive with Internal Combustion Engine (ICE) (typically +/- 15% on a Total Cost of Ownership), not only for greenfield mines, but also for brownfield operations.

In this scenario, BEVs enable lower maintenance and ventilation/ cooling costs but are partially offset with higher capital costs, and the largest spend is concentrated in battery usage. Operators may decide to make battery costs a capital expense through upfront purchases of batteries, or to opt for a battery rental option and make it an operating expense.