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.
- Anheuser-Busch Announces BYD the Winner for Its “Supplier of the Year” Award 2020-12-16
- DHL Adds More BYD Electric Trucks to Its Fleet in U.S. 2020-11-26
- BYD to Introduce First Battery-electric Refuse Truck to Maryland 2020-11-20
- BYD Starts Operating Its Battery Factory in Brazil 2020-09-02
- BYD Rolls Off First New Energy SPV From Its Plant in Huai'an 2020-07-08
- BYD and Hino Sign a Deal with a Focus on Commercial Battery Electric Vehicle 2020-04-24
- BYD, Toyota Launch BYD TOYOTA EV TECHNOLOGY Joint Venture 2020-04-03
- Top 10 Best-selling Electric Heavy-duty Dumper Brands in 2019 2020-04-01
- BYD to Deliver First 20 Electric Trucks to Ecuador 2020-03-10
- Auto Giants in Guangdong to Ramp up Mask Production 2020-02-10
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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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