Diesel vs. Electric Forklifts: Cost Comparison

The operational costs associated with forklifts are a major consideration for many customers before making a purchase. Are the selling prices of forklift trucks aligned with their actual value in use? Furthermore, when customers invest in forklifts, it's essential to evaluate the total cost of ownership, which encompasses investment costs, operating costs, maintenance, and repairs.

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Additionally, customers also ponder which type of forklift is more advantageous in the long term: a diesel forklift or an electric forklift?

1. What are the costs of operating a forklift?

To properly calculate the operating expenses of a forklift, we need to consider the following:

Operating fuel costs

This is a critical factor that most people examine, as it significantly impacts total operating costs.

Various elements can influence fuel costs, such as the cost of fuel, the type of engine, engine capacity, and operational hours— the longer the forklift is in operation, the higher the fuel consumption.

Repair and maintenance costs

If you have invested in a new forklift, the first two years of periodic upkeep, including any repairs due to factory defects, will generally be covered under warranty.

However, once the warranty expires, it is vital to keep a detailed account of ongoing costs, including: technical personnel fees, consumable expenses, spare parts, productivity losses stemming from wear and tear, and truck rentals during repair downtime.

Other costs

In addition, there are other ongoing expenses to consider, like personnel costs, operational safety costs, repair expenses due to truck breakdowns, and any accidents involving the forklift.

Nevertheless, when contrasting the operating costs between diesel and electric forklifts, we will only focus on two main factors: fuel costs and maintenance/repair costs, assuming all other costs are comparable.

2. Operating fuel costs comparison

We know that diesel forklifts operate on fuel while electric forklifts run on electricity.

Despite the higher initial investment for electric forklifts, many speculate that their fuel costs and operating energy expenses could be less than those of diesel forklifts. But is this truly the case?

To provide a common basis for assessment, let's analyze the following scenario:

• Forklift capacity: 3 tons
• Duration of use: 3 years
• Operating hours/day: 8 hours

Per manufacturer data and real-world electric forklift experiences, during one hour of operation, an electric forklift may consume about 5 kWh of electricity; thus, over 8 hours, it would amount to around 40 kWh.

Diesel forklifts incur higher fuel costs than electric forklifts

The fuel consumption for a diesel forklift is approximately 3 liters per hour of operation, equating to around 24 liters over an entire working day. Given the current fuel price of approximately 24,500 VND/liter, the daily operational fuel cost for diesel forklifts is around 588,000 VND per 8 hours of operation.

This disparity indicates that diesel forklifts incur significantly higher fuel costs compared to their electric counterparts, yet the initial investment for electric forklifts remains notably more substantial.

3. Repair and maintenance costs comparison

Feedback from manufacturers and operators suggests that the maintenance and repair costs associated with electric forklifts are generally lower and easier to manage than those for diesel forklifts. The maintenance and repair tasks for electric forklifts typically include: changing hydraulic oil, gearbox oil, distilled water (for lead-acid batteries), and battery replacement or repair, among other expenses.

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Conversely, the maintenance and repair expenses for diesel forklifts involve changing filters, engine oil, hydraulic oil, gear oil, and additional costs.

4. Continuous operating time comparison

It is apparent that diesel forklifts boast superior continuous operation efficiency compared to electric models, as they can simply be refueled and restarted, whereas electric forklifts require time to recharge.

5. Depreciation between diesel forklifts and electric forklifts comparison

According to legal regulations, forklifts follow specific depreciation schedules. Per the provisions outlined in Appendix 01 of Circular 45/TT-BTC, the minimum depreciation period for forklifts is set at 6 years, with a maximum of 10 years for both diesel and electric models.

However, due to distinct operational characteristics, there is a variance in the depreciation rates of diesel versus electric forklifts.

Depreciation costs are also an important factor to consider in the overall operational cost of forklifts

After approximately 6-7 years, diesel forklifts commonly need more frequent maintenance and part replacements to remain functional. In contrast, electric forklifts face battery lifespan challenges after about 4-5 years, often necessitating budget set aside for battery replacements to ensure consistent performance.

6. Conclusion

From the insights provided, along with operators’ practical experience, the initial ownership costs for both diesel and electric forklifts are relatively similar over the first three years.

However, over a more extended period, diesel forklifts present a significantly higher ownership cost due to their greater operational expenses.

To determine the most suitable forklift for your business needs, several factors should be taken into account. For further guidance in choosing between a diesel or electric forklift, consider reviewing the following article:

Electric Forklifts vs. Internal Combustion Engine Forklifts: Which is Better?

For the most thorough advice regarding forklifts in general and handling equipment specifically, please contact Yale Forklifts Vietnam at Hotline: 0461.728.