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This review is part of the Swedish research project Regional Electrified Logistics (REEL) and the work package 1.2: Business models and financing models. Electrification of the freight sector is a fast-developing area and viewed as an important step in reducing the sector's climate impact. However, there are several limiting factors that hinder large-scale transition. The REEL project, which focuses on regional electric deliveries, strives to build knowledge together with the industry and academia to overcome barriers surrounding the area. REEL is a national initiative and is led by CLOSER and is financed by the program strategic vehicle research and innovation (FFI). Well-thought-out business models and financing models are vital for any organization to secure long-term viability. Business models can be described as a plan for how organizations make business and with who, and include the value offered to the customers, who the partners are, and the cost structure. In the case of electrification of freight transport, business models have an important role since it addresses many of the uncertainties associated with the transition. For example, understanding the cost structure with higher investment costs, what type of value can be offered to the customers, and what role will new actors take in the transport system. This review consists of three separate parts: Review of research projects Review of academic publications Challenges and trends from the perspective of the industry The review addresses research projects that are similar to REEL, to investigate their focus and results. The review of academic publications is a structured literature review that aims to describe how business models have been considered for electrification of freight transport. The last section, challenges and trends from the perspective of the industry, addresses aspects that representatives from partner companies within REEL have highlighted.