Soaring electric truck sales deal new blow to diesel use in China

LANGFANG, China, July 11 – Electric-powered heavy trucks are rapidly gaining market share in China, driven by subsidies and the quick rollout of chargers, further curbing diesel usage and denting oil demand from the world’s biggest crude importer.

The boom in electric truck sales in China follows that of electric cars and the rise in recent years of LNG-powered heavy trucks. Those factors, combined with slowing economic growth, have stifled its oil consumption growth.