Market Overview - The sales of new energy commercial vehicles reached 78,047 units in March 2025, a 50.39% increase compared to the same month last year, with a penetration rate of 22.29% [6] - For the first quarter of 2025, total sales were 159,998 units, representing a 66.06% increase year-on-year, with a penetration rate of 20.18% [6] Policy Developments - The Ministry of Transport and ten other departments released guidelines to promote the integration of transportation and energy, aiming for non-fossil energy installations along transport routes to exceed 5 million kilowatts by 2027 and for pure electric vehicles to become mainstream by 2035 [5][10] - The National Energy Administration announced measures to support the development of the private sector in the energy field, including the promotion of virtual power plants and smart microgrids [5][9] Industry Data - The sales of electric trucks surged by 78.04% year-on-year in March 2025, with a penetration rate of 15.69% [6] - Heavy-duty trucks saw a remarkable increase of 180.91% year-on-year, with a penetration rate of 19.82% [6] Company Developments - Jianghuai Automobile launched the ES9 new energy light truck in Shenzhen, targeting the logistics market with its performance and efficiency [15] - Huawei Digital Energy aims to achieve a "ten kilometers per kilowatt-hour" standard, enhancing the electric vehicle experience [19] - Weir Electric achieved a significant breakthrough in the industrialization of its X-PIN stator line, with daily output surpassing 800 units and a yield rate exceeding 92% [19] Infrastructure Initiatives - The Chengdu government issued policies to enhance electricity supply capabilities, promoting smart charging facilities [8] - The guidelines emphasize the construction of charging and hydrogen stations to support the transition to clean energy vehicles [13] Export Performance - BYD led the export of new energy buses in Q1 2025, with 945 units sold, marking a 55.43% year-on-year increase and capturing a market share of 31.53% [19]

Core Viewpoint - The article discusses the strong growth and policy support for the new energy commercial vehicle industry, particularly focusing on the sales performance of new energy medium and heavy trucks and the impact of government policies on the market [2][5][6]. Industry Data - New energy medium and heavy truck sales reached 7,440 units in January 2025, representing a year-on-year increase of 96%, with a penetration rate rising to 19.39% [6]. - The top-selling companies in January 2025 included XCMG with 1,234 units sold, followed closely by Jiefang [6]. - Shanghai led the regional sales with 924 units sold [6]. Policy and Regulations - On March 18, 2025, the Ministry of Transport, National Development and Reform Commission, and Ministry of Finance jointly issued a notice expanding the "old-for-new" policy for outdated operational trucks to include those meeting the National IV emission standards, with natural gas vehicles also eligible for subsidies [5][9]. - The subsidy standards vary based on vehicle type, scrapping time, and the type of new vehicle purchased, with the policy effective throughout 2025 [9][14]. - The Shenzhen municipal government announced plans to accelerate the "old-for-new" program, aiming to replace approximately 16,000 vehicles by the end of 2025, with subsidies of up to 80,000 yuan for new energy vehicles [10]. Company Dynamics - Jianghuai Automobile is set to launch its new energy light truck ES9 on March 20, 2025, which is expected to lead the industry with its advanced features [19]. - Times New Energy has successfully delivered its first batch of cold chain transport vehicles, showcasing the efficiency and environmental benefits of electric drive systems [16]. - Geely's remote division has partnered with Didi and Weiyou Technology to deliver 6,000 customized new energy commercial vehicles [16]. Supply Chain Developments - CATL is developing a second-generation sodium battery, which is expected to have performance metrics close to lithium iron phosphate batteries, potentially offering cost advantages [27]. - NIO and CATL have signed a strategic cooperation agreement to build a comprehensive battery swap network, enhancing their partnership through technology and capital collaboration [27].