Electric trucks captured 50.3% of China's heavy-truck market in September, accounting for 33,100 units sold in that month alone. This represented a 37% year-over-year increase even as the overall heavy-truck market contracted 21%.
The shift is reshaping China's fuel consumption. Diesel demand is on track to fall by approximately 230,000 barrels per day this year. Battery-powered and natural-gas trucks are absorbing most of the demand that diesel previously served.