Mack hosts MD Electric drive event, details new subscription-based financing option

Mack hosts MD Electric drive event, details new subscription-based financing option

Orders for these trucks are open now, and deliveries will commence in Q4 of this year. But this was the first opportunity offered to drive the MD Electric, this time on California's Sonoma Raceway.

Nearly four years ago, when the words “COVID-19” were just a blip on the news radar for this part of the world, Mack Trucks hosted the first ride and drive event for a Mack electric truck: the LR electric. On Oct. 30, with seemingly a lifetime of news events having happened in those three years in between, they hosted their second, this time for the MD Electric medium-duty trucks, which are now ready for the road and on their way to fleets.

The MD Electric trucks were announced earlier this year. The MD Electric, which comes in both Class 6 and Class 7 variants, is based on the MD series chassis, which was released in 2020.

Tyler Ohlmansiek, director of e-mobility sales at Mack Trucks, said that the similarities to the diesel MD series were deliberate, so that customers and drivers can feel as comfortable and familiar as possible while switching to a new fuel.

The Class 6 model has a Gross Vehicle Weight Rating (GVWR) of 25,995 lbs., and the Class 7 model has a GVWR of 33,000 pounds. It has a Permanent Magnet Synchronous motor and all on-board accessories that are powered by Nickel Manganese Cobalt (NMC) Oxide lithium-ion batteries, either in a 150kWh or 240kWH configuration, made in partnership with SEA Electric.

“This truck has a one-to-one capability in this application,” said George Fotopolous, Mack vice president and e-mobility business unit leader. “You don’t need two, three, four trucks to do the job of an ICE vehicle, you can have a one-to-one direct correlation in the capability of this vehicle.” He noted that 80% of Class 6 and 7 trucks drive less than 250 miles a day, and 50% drive less than 125 miles per day, putting most trucks in the application within the range of these trucks (according to Mack’s numbers).

Fotopolous noted that the release of these trucks is part of an overall company goal to have 35% of its trucks be electric by 2035, and for 100% fossil-free production by 2040.

Orders for these trucks are open now, and deliveries will commence in Q4 of this year. But this was the first opportunity offered to drive the MD Electric, this time on California’s Sonoma Raceway.

For our full experience driving the trucks, keep an eye on FE’s On the Road video series—we’ll have an episode detailing our experience in Sonoma with the trucks out later this month. But to learn more about the MD Electric, including new financial options detailed by Mack, read on.

ElectriFi subscription

Mack also announced the launch of a new subscription service, ElectriFi, specifically for the MD Electric trucks. This leasing option is usage-based, with costs depending on miles driven with the truck.

According to Mack, the subscription includes the following:

  • Pay for miles driven only, with a minimum monthly commitment. 
  • Tiered based pricing. Rate per mile goes down when miles reach a higher tier. 
  • Choose your level of commitment with flexible term options. 
  • Limited upfront investment and an end-of-term option to buy, renew or walk away. 
  • One-Stop-Shop solution simplifies customers’ administration work and operational cost calculations. 

ElectriFi Subscription includes chassis and body, charging, applicable incentives, physical damage insurance and maintenance costs for the term of the agreement bundled into a one monthly payment. The program includes an onboard AC charger, with the option to upgrade to a higher-powered DC charger.

According to Mack, the program is aimed at lowering the up-front investment for fleets. It can be thought of as being for those fleets who want to dip their toes into the waters of electrification without diving headfirst into the pool, so to speak.

Terms are flexible starting at three years, with an option to extend up to a total term of six years. 

The ElectriFi Subscription also comes with access to Mack’s uptime services, including telematics and the OneCall roadside service and support system.

More details on the financials can be found in the image below, which Mack shared with journalists at the event.

Courtesy of Mack Trucks.

Along with the ElectriFi Subscription option, Mack Financial Services also offers ElectriFi Infrastructure and ElectriFi Lease. Mack Trucks and Mack Financial Services can also advise on incentives for infrastructure. 

With ElectriFi Infrastructure, Mack and some of its third-party partners will assist customers in developing the charging station design, installation, construction, hardware and software needed for new BEV charging facilities, the company detailed. All-inclusive financing is available with this option, provided that your vehicles are funded by Mack Financial Services, including up to a 60-month loan, Mack said.

Mack says that ElectriFi Lease enables customers to add BEVs into their fleets with reduced upfront investment. It gives users access to Mack telematics, Mack’s Route Support Services team, full lifecycle financing options and renewable five-year terms. 

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