Core Viewpoint - The new energy heavy truck market experienced significant growth in July 2025, with a year-on-year increase of 152%, reaching nearly 17,000 units sold, driven primarily by charging heavy trucks [1][3]. Market Performance - In July 2025, the domestic new energy heavy truck market sold 16,600 units, a month-on-month decrease of 8% but a year-on-year increase of 152% [3][4]. - Pure electric heavy trucks accounted for 98.07% of total sales, with charging heavy trucks continuing to dominate the market [3][4]. - The sales of battery-swapping heavy trucks reached 4,956 units in July, reflecting a year-on-year growth of 127%, although this growth rate is lower than the overall market growth [4][5]. Segment Analysis - The market share of battery-swapping heavy trucks in pure electric heavy truck sales was 30.32% in July, a slight decrease from the previous month [5]. - From January to July 2025, battery-swapping heavy trucks primarily consisted of tractor and dump trucks, accounting for 87.25% and 11.04% of sales, respectively [9][22]. - The competition in the battery-swapping tractor segment is intense, with four companies selling over 3,000 units each [24]. Company Performance - Foton led the sales of battery-swapping heavy trucks in July with 1,378 units sold, marking its fourth consecutive month at the top [12][15]. - Other notable performers included XCMG, FAW Liberation, and Yuchai, with sales of 821, 749, and 537 units, respectively [12][15]. - From January to July 2025, Foton's cumulative sales reached 5,623 units, a year-on-year increase of 612%, capturing 18.78% of the market share [16][20]. Future Outlook - The battery-swapping heavy truck segment has shown consistent growth, with a year-on-year increase of 138% from January to July 2025 [22][30]. - The industry will continue to monitor which company can break Foton's dominance in the battery-swapping heavy truck market [30].

Core Viewpoint - The new energy heavy truck market experienced significant growth in June 2025, with a year-on-year increase of 158%, reaching a record sales volume of 18,000 units, including over 12,000 units of charging heavy trucks, setting a new monthly sales record [1][4]. Market Performance - In June 2025, the domestic new energy heavy truck market sold a total of 18,000 units, with a month-on-month increase of 19% and a year-on-year increase of 158% [4][5]. - Pure electric heavy trucks accounted for 97.87% of total sales, with charging and battery swap heavy trucks contributing significantly [5]. - Battery swap heavy trucks sold 5,573 units in June, marking a month-on-month increase of 16% and a year-on-year increase of 141%, although this growth rate was lower than the overall new energy heavy truck market [5][6]. Market Share and Competition - The market share of battery swap heavy trucks in pure electric heavy truck sales was 31.62% in June, showing a slight decline from the previous month and a decrease compared to the same period last year [7]. - From January to June 2025, the battery swap heavy truck market saw participation from 27 companies, with 24 active participants as of June [20]. - The top-selling companies in June included Foton, Xugong, and Jiefang, with Foton achieving a remarkable year-on-year growth of 825% [16][18]. Segment Analysis - The battery swap heavy truck segment is dominated by tractor and dump trucks, which accounted for 86.38% and 11.72% of sales, respectively [11][27]. - The competition in the battery swap tractor market is intense, with six companies selling over 2,000 units each, and Foton leading with 4,147 units sold [29]. - The battery swap dump truck segment did not keep pace with the overall growth, with a year-on-year increase of only 26% [31]. Conclusion - The battery swap heavy truck sector has shown impressive growth in the first half of 2025, with continuous month-on-month increases, but it still lags behind the overall new energy heavy truck growth rate [36].

Core Viewpoint - The new energy heavy truck market has seen significant growth, with a year-on-year increase of 190% in May 2025, and sales have consistently exceeded 15,000 units for three consecutive months, indicating a strong upward trend in the sector [1][5]. Market Performance - In May 2025, the domestic new energy heavy truck market sold a total of 15,100 units, a month-on-month decrease of 5% but a year-on-year increase of 190% [5]. - Pure electric heavy trucks accounted for 98.99% of total sales, with sales of 15,000 units, showing a slight increase from the previous month [5]. - The sales of battery swap heavy trucks reached 4,806 units in May, reflecting a year-on-year growth of 145%, although the growth rate has slowed compared to previous months [5][19]. Segment Analysis - The battery swap heavy truck segment has seen a market share of 32.15% in May, which is a slight increase from the previous month but a decrease of over 9 percentage points compared to the same period last year [7]. - From January to May 2025, the battery swap heavy truck segment sold a total of 19,400 units, representing a year-on-year increase of 139% [19][21]. - The main types of battery swap heavy trucks sold were tractor trucks and dump trucks, accounting for 85.14% and 12.92% of sales, respectively [12][25]. Company Performance - Foton led the sales in May with 1,089 units, followed closely by XCMG with 1,054 units, indicating strong competition among leading manufacturers [15][17]. - Seven out of the top ten companies in the battery swap heavy truck market achieved over 100% year-on-year growth, with notable increases from Foton, Dongfeng, and XCMG [17][23]. - The market share of leading companies such as XCMG, Foton, and China National Heavy Duty Truck Group has increased, with Foton's market share rising by 7.58 percentage points compared to the previous year [23]. Future Outlook - The battery swap heavy truck market is expected to continue its growth trajectory, although it has not yet outpaced the overall new energy heavy truck market growth [33]. - The competitive landscape remains intense, particularly in the battery swap tractor truck segment, where major players are vying for market leadership [27].

Core Viewpoint - The new energy heavy truck market experienced a significant year-on-year increase of 245% in April 2025, with total sales reaching a record 15,800 units, driven primarily by charging sales exceeding 10,000 units, marking the highest monthly sales ever recorded [1][4]. Market Performance - In April 2025, the domestic new energy heavy truck market sold a total of 15,800 units, reflecting a month-on-month increase of 5% and a year-on-year increase of 245% [4]. - Pure electric heavy trucks accounted for 98.57% of total sales, with sales of 15,600 units, showing an increase from 94.91% in the previous month [4]. - The battery swap heavy truck segment sold 4,830 units in April, achieving a month-on-month growth of 9% and a year-on-year growth of 184%, although it continued to lag behind the overall new energy heavy truck market [4][29]. Segment Analysis - The market share of battery swap heavy trucks in pure electric heavy truck sales was 30.95% in April, slightly down from 31.14% in March and significantly lower than the 37.24% share from the previous year [6]. - From January to April 2025, battery swap heavy trucks accumulated sales of 14,600 units, representing a year-on-year increase of 138% [16][19]. - The main models sold were tractor trucks and dump trucks, accounting for 84.30% and 13.70% of sales, respectively [21]. Company Performance - In April, Foton topped the sales chart with 976 units sold, marking its first month as the leader in battery swap heavy truck sales [12][13]. - Other top performers included XCMG, Heavy Truck, and Shaanxi Automobile, with sales of 686, 648, and 616 units, respectively [12]. - Eight out of the top ten companies in the battery swap heavy truck market achieved year-on-year sales growth of over 100% [15]. Competitive Landscape - The competition in the battery swap tractor truck segment is intense, with Foton and Heavy Truck leading the market with sales of 1,794 and 1,732 units, respectively [23]. - The battery swap dump truck segment did not keep pace with the overall growth, with sales of 2,002 units from January to April, reflecting a year-on-year growth of only 49% [25]. - By April 2025, 14 companies had achieved sales in the battery swap dump truck market, with XCMG leading with a market share of 45.70% [27]. Future Outlook - The battery swap heavy truck market has shown consistent growth in the first four months of 2025, with year-on-year increases of 77%, 242%, 107%, and 184% [29]. - The market is expected to continue evolving, with ongoing monitoring of its performance and potential to outperform the overall new energy heavy truck market in the future [29].