Sany Heavy Truck Chairman Liang Linhe: New Energy Trucks Offer Strong Economics, Targeting Over 30,000 Units Sold and 20% Market Share by 2025

During the 2026 High-Level Forum on Intelligent Electric Vehicle Development, Liang Linhe, Director of Sany Group and Chairman of Sany Heavy Truck, stated that the first phase of electrification has not yet concluded, and the core of the next industrial wave will be new energy heavy-duty trucks. He believes that, as a production tool, new energy heavy-duty trucks—with their exceptional cost-effectiveness—can comprehensively penetrate all types of transportation scenarios, including long-haul logistics, and will gradually replace diesel-powered trucks. Liang Linhe unveiled for the first time a practical roadmap for autonomous heavy-duty trucks, encompassing unmanned operations on fixed routes, intra-provincial and inter-provincial unmanned drop-and-pull transport, and large-scale production of autonomous heavy trucks. He said Sany Heavy Truck aims to achieve nationwide coverage to simultaneously reduce logistics and supply chain costs. Founded in 2017, Sany Heavy Truck is a business unit under Sany Group dedicated to intelligent and connected trucks. It has launched a range of heavy-duty truck products powered by diesel, lithium batteries, and hydrogen fuel cells. Its new energy heavy-duty trucks have consistently ranked among the industry leaders in sales volume for several consecutive years. In 2024, Sany Heavy Truck sold 12,200 electric heavy-duty trucks, becoming the first domestic heavy-truck manufacturer to surpass 10,000 annual sales. In 2025, its sales exceeded 30,000 units, a year-on-year increase of 156%, capturing over 20% market share. According to data from the China Association of Automobile Manufacturers (CAAM), total domestic heavy-duty truck sales reached 1.1449 million units in 2025, up 26.98% year-on-year, ending a prolonged downward trend. Liang Linhe noted that supportive government policies combined with the economic advantages of new energy heavy-duty trucks are rapidly accelerating market penetration, with an estimated penetration rate of 40% to 50% in 2025. Although Sany Heavy Truck had been China’s top-selling new energy heavy-duty truck brand from 2021 to 2024, it dropped to second place in 2025. Liang Linhe emphasized that the company competes based on its own strategic priorities and does not endorse pure price wars. He stressed that Sany Heavy Truck maintains the industry’s lowest costs, highest profitability, and operational efficiency. If leading companies engage in price wars, it could trap the entire sector in a vicious cycle of low investment and stagnant development. The company prioritizes long-term competitiveness and the sustainable development of China’s heavy-duty truck industry. Regarding the future direction of electric heavy-duty trucks, Liang Linhe identified intelligence, battery swapping, and overseas expansion as key pathways. He pointed out that autonomous driving technology is already relatively mature in closed environments like ports and mines, but its true value lies in public road applications. The goal is to deploy unmanned electric heavy-duty trucks on public roads within the next four years. Since 2024, Sany Heavy Truck has begun deploying battery-swap stations tailored for scenarios such as concrete mixing plants, construction waste sites, and sand and gravel yards. By building just two or three swap stations, waiting times and queues can be significantly reduced. Given freight vehicles’ high energy consumption per unit and relatively small fleet sizes, the battery-swap model is seen as particularly effective in leveraging the advantages of swap infrastructure. On the international front, Liang Linhe stated that global giants are notably lagging behind Chinese manufacturers in electric truck offerings. Sany Heavy Truck has already made progress in markets like the UAE and Vietnam. In Vietnam, rising fuel prices have driven demand for electric vehicles, and after two years of market promotion, the company has garnered significant local attention. To address insufficient power infrastructure in certain countries, Sany Heavy Truck plans to assist with electricity access applications or help build solar- and wind-powered charging facilities. Regarding recent fundraising activities or IPO preparations by several new entrants in the new energy heavy-duty truck sector, Liang Linhe acknowledged this reflects strong investor confidence in the industry and will accelerate its growth. However, he emphasized that as a market leader, Sany Heavy Truck enjoys high collection rates, low delinquency rates, and holds over RMB 5 billion in cash reserves—leaving it well-capitalized and under no pressure to raise additional funds.