BEIJING, China, East Asia: China electric truck exports more than doubled year-on-year to 16,823 during the four months after February 28, according to Reuters.
Reuters linked the increase to higher fuel costs following the US-Israel war with Iran. Half of the exported trucks went to South and Southeast Asia during the period.
Shipments to South Asia increased more than fivefold, while exports to Southeast Asia nearly tripled, Reuters reported.
GlobalPetrolPrices.com reported that diesel prices rose by 48% in Sri Lanka and 57% in the Philippines after the conflict began. Chinese government data showed a 15% rise in domestic diesel prices.
Sany executive Zhaoting Yue said higher fuel costs had accelerated electric-truck purchases. He said the estimated payback period for some buyers had fallen from 28 months to 18 months.
Sany shipped a record single order of 880 heavy trucks in June, though Yue did not identify the buyer. China sold 140,000 electric trucks in the first half, Reuters reported. Electric models accounted for 30% of domestic truck sales last year.
The Centre for Research on Energy and Clean Air estimated that China’s electric-truck fleet could displace oil use equivalent to 141 million barrels this year.
Read: Global Oil Prices: The Iran War has Revealed China’s Enormous Power
Despite the export growth, Reuters said electric-truck shipments remained small compared with China’s car and motorcycle exports. It cited high vehicle prices and limited charging infrastructure as barriers to broader adoption.
