NEV giants fueling shift to electric heavy trucks

Some of the biggest new energy vehicle giants are putting their efforts into 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.