BYD Sets to Get Further Boost to Revenues from E-trucks
BYD Co. Ltd. (OTCPK:BYDDF) is set to get a further boost to revenues from e-trucks. The world market for these is set to ramp up quickly in the next few years. Most trucks are diesel-powered, and diesel is rightly getting a bad name for air pollution. As the world's largest EV manufacturer, BYD is well-positioned to benefit in China and worldwide. Competitors, which will include Daimler (OTCPK:DDAIF) and Tesla (NASDAQ:TSLA), will find BYD a tough competitor.
The Truck Market
Trucks are not a very "sexy" business, and this may benefit BYD. Consumers in the Western World may be wary of buying a Chinese car at the moment. However, as the company's growing success in the e-bus market shows, consumers do not notice the manufacturer of the bus they catch to work or the truck that delivers their e-shopping.
According to a report by Deloitte, the world truck market in general is expected to enjoy moderate growth in the next few years. The period 2014 to 2024 is expected to have a CAGR of 3%. Certain markets will grow much more rapidly. Most notably these include India at 9%, ASEAN at 4%, and Eastern Europe at 10%.
The world's leading truck manufacturer is Daimler. It has over 20% of the world market through its "Mercedes Benz Truck" brand. Volkswagen (OTCPK:VLKAY) is strong with its "MAN" and "Scania" brands. The company has been somewhat slow to develop the e-truck sector. It expects to have its first e-truck, a light duty distribution truck, on the roads by 2019. It recently pledged to spend 1.4 billion euros by 2022 on this sector.
Fiat (NYSE:FCAU) and Volvo (OTCPK:VOLVY) are important world truck players. Volvo recently made headlines with its plan for all-electric passenger vehicles and is a leading developer now in autonomous testing. This includes an autonomous refuse truck and vehicles for mining operations. It is working on hybrid trucks more than pure electric.
- BYD Rolls Off Its New Energy Sanitation Vehicles in Changsha 2020-01-06
- BYD, Anheuser-busch and Nikola Completes First Zero-emission Beer Delivery 2019-12-13
- BYD Delivers 9 Electric Waste Trucks to Rio de Janeiro, Brazil 2019-10-09
- BYD Opens First Plant in Canada 2019-06-26
- BYD Opens Service Center in Northern California 2019-04-24
- Popular Construction Vehicles Recommended for 2019 2019-03-07
- BYD Breaks Ground on New 20 GWh Battery Cell Plant in Chongqing, China 2019-02-26
- BYD Launches Electric Trucks and Van in Europe 2019-02-19
- Tesla and Frito-Lay to Launch Near Zero Emissions Distribution Facility 2019-01-24
- BYD Suspends Its Plan for Electric Truck Assembly Plant in Canada 2018-11-27
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C&C Trucks Co., Ltd.
C&C Trucks Co , Ltd (C&C Trucks), located in Sanshan Economic Development Zone, Wuhu, Anhui Province, a holding company under China International Marine Containers (Group) Co , Ltd (CIMC), is a large heavy truck enterprise integrating the research and development, production
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