The share of electric heavy-duty trucks in China is rapidly growing and will likely account for half of the market by 2028, according to the chairman of Chinese battery giant Contemporary Amperex Technology.
The penetration rate of electric heavy trucks will likely rise to 50 percent over the next three years from about 10 percent last year, Zeng Yuqun said at a launch event of CATL's No. 75 standardized battery swap pack for heavy trucks and all-scenario chassis-based swapping solution yesterday.
CATL plans to build a green battery swap network covering 80 percent of the national cargo transportation mainlines by 2030, aiming to allow new energy heavy trucks to recharge within five minutes, Zeng noted. The firm can build battery swap stations in batches along major transport routes using the new No. 75 pack, further reducing swap costs, he added.
Heavy trucks have mostly fixed transportation routes, so swap stations need to be built along them, a commercial vehicle expert told Yicai. This results in relatively low investment costs and simple technology, especially for short-haul trucking with fixed transport scenarios, the person added.
Heavy trucks using CATL's swap solution already save 62 Chinese cents (9 US cents) per kilometer in power costs compared to those running on fuel and 20 Chinese cents compared to natural gas heavy trucks, said Yang Jun, chief executive of the company's battery swap unit, Times Electric Service. Electric heavy trucks using the swap model are likely the industry's future, Yang pointed out.
CATL's product development is based on three principles: feasible technical routes, mass production capability, and a sustainable profit model, according to Zeng.
"As heavy trucks contribute 43 percent of road traffic carbon emissions, their electrification is crucial for China's transportation industry to achieve dual carbon goals," noted Sun Fengchun, an academician at the Chinese Academy of Engineering.
The market penetration rate of new energy commercial vehicles, including heavy trucks, in China was only 17.9 percent last year, while that of new energy passenger vehicles reached almost 48 percent and will likely surge to 57 percent this year, according to data from the Passenger Car Association.
