CHINA REPORT
Under its new Five Year Plan, Beijing will expand restriction on the use of vehicles entering Beijing. At the same time, Beijing will restrict the use of China III diesel trucks and will implement regional traffic restrictions during peak hours of working days, strengthen the management of illegal electric three and four wheeled vehicles, and implement a preferential traffic policy for new energy logistics and distribution vehicles.
The Five Year Plan also calls for the promotion of low-carbon new energy transportation tools, and the promotion of “oil for electricity” of vehicles in public transport, rental (including cruise and online appointment), tourism and freight transportation.
Today, 69,000 diesel trucks have been eliminated in Beijing, and the proportion of clean energy and new energy vehicles in public transportation has reached 90.2%. Beijing plans to accelerate the promotion of new energy intelligent vehicle technology and cost reductions in many applications.
Source: Auto China Read The Article
PSR Analysis: Driven by the national “double carbon” strategy and the new energy vehicle policy, new energy commercial vehicles are developing rapidly. The growth rate of new energy logistics trucks has increased, becoming a strong market to promote new energy logistics trucks.
New energy light truck logistics vehicles serving the urban distribution market have zero carbon emission and feature convenient charging. There is no lack of endurance. In addition, the cost of pure electric is relatively low.
The government advocates that most customers operating in the urban distribution logistics market prefer to buy pure electric logistics light trucks. In 2021, the sales volume of new energy logistics trucks increased by 1.72 times year-on-year, which became the driver to promote rapid growth of new energy logistics vehicle industry in 2021.
Mainly because of the strong promotion of the national “double carbon” goal and various national and local policies to support and encourage the development of the new energy logistics vehicle market, the new energy logistics truck began to enter the track of rapid development in 2021. It will continue to accelerate development in the next five years.
Many provinces and cities such as Beijing and Tianjin have issued transportation development and construction plans during the 14th Five Year Plan period, which has made key deployment in optimizing and adjusting the cargo transportation structure.
Other provinces and cities are expected to follow this policy, which is definitely a major opportunity for the development of new energy light trucks. PSR
Jack Hao is Senior Research Manager – China for Power Systems Research
