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A research report issued by Guotai Haitong reveals that propelled by trade-in incentives, China's electric heavy-duty truck market is currently undergoing rapid expansion, marked by a steady climb in penetration rates. Despite the relatively modest electrification progress of heavy-duty trucks in Europe and the United States at present, a burgeoning growth trend is starting to take shape, fueled by more stringent carbon emission evaluations and the implementation of subsidy policies. Guotai Haitong anticipates that the impending explosive growth in the electric heavy-duty truck market will create vast growth opportunities for the lithium battery industry, with power battery manufacturers and key material suppliers poised to reap significant benefits.
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