China's heavy truck inventory will exceed 1.6 million units by 2030.

Recently, the Chinese Ministry of Transport, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and eight other ministries and government commissions jointly released an Implementation Plan to promote the widespread use of new energy heavy trucks, which clearly states that by 2030, the market share of new energy heavy trucks will reach 40 percent, and the stock of vehicles will exceed 1.6 million units, which will account for approximately 20 percent of the total stock of heavy trucks by the year under review.

Meanwhile, Shan Zenhai, vice president and chief engineer of XCMG, said at the 2026 Construction Machinery Technology Festival held on June 14 in Hangzhou, Zhejiang Province, that the domestic new energy construction machinery market is expected to grow rapidly to about 80 billion yuan in 2026, and industry penetration will accelerate and it will potentially reach 15-20 percent.