Over 230,000 zero-emission trucks and buses were sold in China in 2024, the ICCT says
It is a record figure, mainly due to a strong macroeconomic stimulus package released by the Chinese government in September, as reported by the ICCT. "The increasing market maturity and manufacturer consolidation suggest that zero-emission technologies are trending toward mainstream in China's commercial vehicle sector. A decade of ambitious policies has driven a transformative shift, positioning manufacturers well for the rapid growth that upcoming regulations, like China VII, will spur", commented co-author Felipe Rodriguez.
According to the latest study released by the ICCT (International Council on Clean Transportation), Over 230,000 zero-emission trucks and buses were sold in China last year (here’s our post about the first half of 2024, when about 65,000 zero-emission truck were sold). It is a record figure, mainly due to a strong macroeconomic stimulus package released by the Chinese government in September, as reported by the ICCT.
More into details of the zero-emission vehicles sold, battery electric technology dominated the zero-emission market for both medium and heavy trucks, accounting for 13% and 14%, respectively. In contrast, fuel cell trucks remained as a nascent technology, holding less than 1% market share in heavy trucks. Only in December, however, the heavy truck segment surged to nearly 21% market share, while the medium truck segment reached 22%.
“China’s zero-emission truck and bus market experienced significant growth in 2024, particularly in the fourth quarter following the government’s macroeconomic stimulus package released in September,” commented Felipe Rodríguez, ICCT Heavy-duty vehicle Program Director and co-author of the analysis. “The increasing market maturity and manufacturer consolidation suggest that zero-emission technologies are trending toward mainstream in China’s commercial vehicle sector. A decade of ambitious policies has driven a transformative shift, positioning manufacturers well for the rapid growth that upcoming regulations, like China VII, will spur.”
Zero-emission trucks in China: battery swapping can further help
The report (here’s the link to all the detailed data) shows that the zero-emission heavy truck market is rapidly consolidating as leading manufacturers successfully scale their operations to significant levels. The top five manufacturers (XCMG, SANY, FAW, Shacman, and Yutong) captured 61% of the market, approaching similar concentration levels as seen in the internal combustion engine segment (75%).
Additionally, the use of battery swapping technology, whereby a depleted electric vehicle battery can be switched out for a fully charged replacement, has gained in popularity in China in recent years, particularly for trucks and tractors. In 2024, sales of swap-capable vehicles reached a total of 29,569, a 94% growth from 2023. Indeed, several policies were introduced in 2024 to support this emerging technology and pilot projects have been launched to assess use cases in several industries, including mining, steel, and port logistics.
