Electric haul trucks could save Fortescue over $400 million in fuel per year [update]
![Electric haul trucks could save Fortescue over $400 million in fuel per year [update]](https://electrek.co/wp-content/uploads/sites/3/2025/09/liebherr-t264.png?w=1200)
Get the Energy newsletter
Daily energy & climate — solar, EVs, oil, the policy fights and tech bets shaping the transition. Free.
- Fortescue is rolling out hundreds of electric haul trucks and expects $300‑$400 million in annual fuel savings, a figure calculated before the Iran‑related fuel price surge.
- Liebherr T264 trucks weigh 176 tonnes, haul 240 tonnes, and use a 3.2 MWh battery that recharges in ~30 minutes on a 6 MW DC fast charger.
- Trump’s attacks on Iran led to a temporary closure of the Strait of Hormuz, spiking global fuel prices and strengthening Fortescue’s business case for electrification.
Why it matters: Fortescue gains $400 M annual fuel savings, while diesel equipment suppliers lose sales; the shift also shields mining operations from volatile oil prices caused by Iran‑related Strait closures, boosting financial resilience.
