Chinese companies — already dominant in the electric car sector — are taking control of the electric freight truck market.
EV behemoth BYD and other Chinese automakers are fine-tuning manufacturing and sales efforts in their mammoth domestic market and beginning to look overseas, mimicking the playbook the country’s EV makers have used to ramp up car sales globally. “They bring cost competitiveness, manufacturing know-how, and proven technology stacks,” one analyst told Rest of World.
The growth of the electric truck market points to China’s increasing prowess in the businesses that power the energy transition: Activists bemoaned Beijing’s relatively modest emissions-cutting commitment last week, but in reality, “China has become the world’s clean tech superpower,” an expert wrote in The New York Times.