Electric trucks reach 50.3% of China heavy-truck sales as diesel demand falls

· Energy · China

Electric trucks accounted for 50.3% of all heavy trucks sold in China in September, with 33,100 electric big rigs delivered in the month, up 37% year on year, even as the overall heavy-truck market shrank 21%. The shift is now visible in oil data: China's diesel demand is on track to fall by roughly 230,000 barrels per day this year. Heavy trucks are among the hardest vehicle segments to electrify because of range and payload demands, so crossing the half-way mark in the world's largest truck market marks a structural change. For fuel suppliers, the decline in diesel consumption erodes a core distillate outlet, while battery and charging suppliers gain a large and growing customer base.

Why it matters：Electrification of heavy road freight is beginning to erode diesel demand in the world's largest oil importer, with consequences for refiners and battery supply chains.

Key points

  • 33,100 electric heavy trucks sold in September
  • Overall heavy-truck market fell 21% year on year
  • China diesel demand seen down about 230,000 b/d this year

Sources (original reporting)

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