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4mo ago

Chinese EV Truck Industry Expands Globally Despite Challenges

Chinese firms leverage cost advantages and domestic supply chains to lead in electric truck production, but face quality concerns and geopolitical trade barriers.

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China's flagship companies still lag rivals on factors like range and battery capacity
Fleets of electric heavy goods vehicles from China have been growing internationally, despite Western sanctions
Electric trucks represent less than one percent of truck sales worldwide -- with China making up 70 percent of those sales in 2023

Overview

  • China accounted for 70% of global electric truck sales in 2023, though the segment remains under 1% of total truck sales worldwide.
  • Chinese companies like BYD and Windrose are exporting electric trucks to markets in Europe, Latin America, and beyond, while opening international assembly plants to boost global reach.
  • Battery range and durability remain key challenges, with Chinese models generally offering shorter ranges compared to competitors like Tesla, though advancements such as battery-swapping technology are narrowing the gap.
  • Geopolitical tensions and trade barriers, including tariffs from the EU and anticipated U.S. import restrictions, could hinder further global expansion of Chinese EV trucks.
  • Chinese manufacturers are adapting by diversifying operations, with some shifting production or headquarters to other countries to mitigate trade risks and meet local market demands.