Comparative analysis of total cost of ownership and well-to-wheel emissions for electric freight vehicles: A case study for South Korea

• TCO and WtW analysis compares diesel, LPG, and electric freight vehicles in South Korea. • Scenarios reflect realistic mileage, subsidies, and usage patterns for each fuel type. • EVs show lowest cost with subsidies or high mileage, and lowest CO 2 and NO x emissions. • EV adoption cuts social costs and supports sustainable freight policy planning. In this study, the economic and environmental performances of 1-ton freight vehicles in Korea powered by diesel, liquefied petroleum gas (LPG), and electricity were evaluated. A scenario-based total cost of ownership (TCO) analysis was conducted in parallel with a well-to-wheel (WtW) assessment of air pollutant emissions, focusing on three realistic operational scenarios. The results show that diesel vehicles have the lowest TCO under baseline conditions, whereas electric vehicles (EVs) are more cost-effective with high mileage or subsidy support. WtW analysis reveals that EVs significantly reduce CO 2 (−30%), NO x (−93%), and CO (−85%) emissions compared to those of diesel, although PM2.5 and SO x emissions remain higher owing to fossil fuel-based power generation in Korea. Monetized damage costs confirm these trends: EVs reduce externalities by up to $5,310, and $1,521 compared to diesel, and LPG, respectively. These findings underscore that EVs, when supported by targeted policies and a cleaner electricity mix, represent a viable and socially beneficial pathway for sustainable freight transport.