Battery-swapping heavy-duty trucks are showcased in Datong, Shanxi province, on May 18. （ZHU XINGXIN/CHINA DAILY）
BEIJING: Some of the biggest new energy vehicle or NEV giants are focusing on heavy-duty trucks, a sector which is expected to gain momentum and become a major growth driver in China’s commercial vehicle market.
The heavy truck industry will see explosive growth, with new energy models accounting for more than half over the next three years, amid the challenges and opportunities of zero-carbon transformation and logistics cost reduction, said Zeng Yuqun, CEO of CATL.
Driven by the “trade-in” policy and declining lithium battery prices, the life cycle cost advantage of electric heavy-duty trucks is becoming increasingly evident, said industry analysts, adding that the industry is expected to enter a phase of rapid growth.
Traditional heavy truck manufacturers such as Sinotruk and FAW are actively shifting to new energy powertrains, while companies including Yutong Bus, BYD, XCMG and Zoomlion are also expanding into the new energy heavy truck sector.
BYD has launched a lineup of electric heavy trucks – including tractors, dump trucks and mixers – targeting long-haul logistics and urban construction markets.
FAW Jiefang, meanwhile, is accelerating its new energy truck development. — China Daily/ANN
