China’s Heavy Truck Market Could Be 50% Electric by 2028, CATL Saysf
- tech360.tv
- 4 hours ago
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Half of China’s heavy truck sales could be electric vehicles by 2028, up from 10% in 2024, according to Zeng Yuqun, Chairman of Contemporary Amperex Technology Co. Ltd. (CATL).
Zeng made the remarks during a heavy-truck battery-swapping launch event, as reported by the Shanghai government-affiliated news site Jiemian.
The projection signals a potential decline in fuel demand in the trucking sector, which is already seeing increased adoption of liquefied natural gas (LNG) trucks.
CATL announced on Saturday that it had begun production at a 60 gigawatt-hour energy storage and EV battery manufacturing base in Shandong.
This is CATL’s first such facility in northern China.
The company plans to add a second and third phase to the project over the next two years, creating an energy industry battery cluster worth billions of yuan in the region.
Shandong province aims to build a lithium battery industry worth 100 billion yuan (USD 14 billion) by the end of this year.
The industry will include electrode materials, electrolytes, battery cells and assembly, according to a local government notice issued last year.
CATL projects 50% of China’s heavy truck sales could be EVs by 2028
Current EV share in heavy truck sales is 10% in 2024
CATL launched a 60 GWh battery facility in Shandong
Source: REUTERS