BEIJING: China's exports of electric trucks to other Asian countries have spiked, adding to a surge in domestic sales as higher fuel costs as a result of the Iran war accelerate regional electrification.
China’s rapid adoption of e-trucks — from lighter vehicles to tractor-trailers — has partially shielded the world's biggest auto market from the impact of the conflict. Now other countries are scrambling to follow.
In the four months after the U.S. and Israel launched the war on February 28, China's exports of heavy e-trucks more than doubled from the same period last year to 16,823 vehicles. Half went to South and Southeast Asia, with shipments to South Asia up more than fivefold and to Southeast Asia nearly tripling.
WAR OPENS THE DOOR TO MARKETS FOR CHINESE E-TRUCKS
South and Southeast Asia are particularly dependent on the Middle East for oil, and Iran's closure of the Strait of Hormuz has triggered some of the biggest jumps in diesel prices, according to GlobalPetrolPrices.com, creating an opening for China, the world's largest e-truck maker.
