While passenger vehicle electrification is developing rapidly, the electrification process in the commercial vehicle sector is also accelerating. Electric buses, electric logistics vehicles, electric heavy trucks and other market segments are growing rapidly with broad market prospects.
In terms of electric buses, Chinese brands dominate the global market. Bus products from companies such as BYD and Yutong have been exported to more than 100 countries and regions worldwide, with both technical level and market share leading globally.
In terms of electric logistics vehicles, with the development of e-commerce and express delivery industries, the electrification trend of urban logistics and distribution vehicles is evident. Due to relatively fixed operating mileage and sensitivity to operating costs, the economics of logistics vehicle electrification have already emerged.
Electric heavy trucks are the most technically challenging field in commercial vehicle electrification, but their development speed is also very fast. Battery swap mode and hydrogen heavy trucks are the current main technical routes, widely used in closed scenarios such as mines and ports.
In terms of market size, although the commercial vehicle electrification rate is still not high, its growth rate is very fast. It is expected that by 2030, the global commercial vehicle electrification rate will reach more than 30%, with huge market space.
For export enterprises, commercial vehicles will become another important export growth point after passenger vehicles.