tech
CNBC's The China Connection newsletter: Tackling EV trucks after success with cars
Beijing's latest push into electric trucks has echoes of measures announced more than a decade ago to develop new energy passenger cars.
TL;DR
- China aims to replicate its electric car success by focusing on electric trucks.
- Government policies set targets for new energy heavy trucks to be 40% of new truck sales by 2030.
- More than 80% of trucks on shorter routes around Beijing are expected to be electric.
- China's NEV market surpassed targets, with over 60% of new passenger cars sold being NEVs.
- Electric trucks accounted for a quarter of China's truck sales last year, doubling global segment sales.
- Operational cost advantages and declining battery costs drive electric truck adoption in China.
- Electric trucks are significantly more expensive than diesel alternatives outside China.
- Sany Heavy Industry stopped selling diesel trucks in China and made its largest export shipment of 880 electric trucks.
- Sany's highly automated factory in Changsha can produce up to 300,000 trucks annually.
- Electric trucks are a small but rapidly growing segment of China's truck exports.