Reported 1 day ago
Electric-powered heavy trucks are rapidly increasing their market share in China, accounting for about a quarter of new truck sales in the first half of the year, which marks a 175% year-on-year rise. This trend, bolstered by government subsidies and enhanced charging infrastructure, is expected to significantly reduce diesel demand, with predictions indicating that diesel consumption could decline by 40% in the transport sector by 2030. Analysts suggest that the growth in electric truck sales is likely to peak China's oil consumption sooner than previously anticipated.
Source: YAHOO