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Half of China’s heavy truck sales are set to be electric vehicles by 2028, according to CATL's founder Robin Zeng
CATL, a leading EV battery manufacturer, projects electric trucks to comprise 50% of China's truck sales by 2028, leading to significant changes in the automotive and fuel markets.
Chinese fuel demand is already leveling off due to the surge in electric passenger car sales and the growing number of LNG-powered trucks. After decades of growth, Chinese demand for transport fuels is peaking as electric vehicles and LNG-powered trucks are seizing market share from gasoline and diesel. Like CNPC, the International Energy Agency (IEA) also believes that oil demand for fuels in China has reached a plateau.
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