GXED(SH:600617) Zhi Tong Cai Jing·2025-10-23 07:21Group 1: Core Insights - The electric heavy truck market in China is experiencing rapid growth driven by the trade-in policy, with a cumulative sales volume of 137,800 units in the first three quarters of 2023, representing a year-on-year increase of 184% and a penetration rate of 24.21% [1] - The penetration rate of electric heavy trucks in China is expected to reach 35% by 2026 and exceed 50% by 2027, as the economic and environmental advantages of electric trucks become more pronounced [1] - In Europe, the electric heavy truck market is accelerating due to stricter carbon emission regulations and new policies, with sales exceeding 3,000 units in 2023, a threefold increase year-on-year, and a penetration rate surpassing 1% [2] Group 2: Regional Developments - The U.S. electric heavy truck market currently has a low penetration rate of less than 1%, but is showing initial growth momentum due to clean vehicle subsidy programs, with projected sales of 1,103 units in 2024, a 34% increase year-on-year [3] - In Europe, the electric heavy truck sales are projected to reach 4,291 units in 2024 and 2,410 units in the first half of 2025, with year-on-year growth rates of 35% and 13% respectively [2] Group 3: Investment Opportunities - Recommended stocks benefiting from the growth in the electric heavy truck market include CATL, BYD, Guoxuan High-Tech, EVE Energy, Zhongchu Innovation, Hunan YN, Zijin Mining, Longjing Environmental Protection, and Tianci Materials [4]