China Dominates in Adopting Long-Haul Electric Trucks
China’s dominance of the global passenger electric vehicle market is also extending to long-haul electric trucks. In addition to being the largest producer and market for passenger battery electric vehicles (BEVs), China has surpassed both the U.S. and Europe in the adoption of electric trucks. With the Trump administration recently cutting federal electric vehicle subsidies and halting the deployment of public chargers using federal funds, the U.S. risks being left far behind Beijing.
In nearly two decades since the first mass market BEV hit the market, passenger EVs have become the default form factor for electric mobility. Most automakers have focused their efforts on passenger EVs, with outliers like Rivian and Ford developing electric pickup trucks. While players like Nikola Corporation, Lion Electric, and Arrival operate in the electric truck segment, they haven’t made a notable impact on the global stage.
Estimates from economic research company Mordor Intelligence show that the global market for electric trucks will reach $227 billion by the year 2029, expanding from $89 billion in 2025 at a compound annual growth rate (CAGR) of 26%. China will undoubtedly carve out a large portion of this market for itself, especially if the EU and the U.S. don’t step up their efforts to adopt electric mobility.
Mordor Intelligence’s projections state that the medium-duty segment of commercial electric trucks will have a 39% CAGR, the fastest growth rate, over the next three and a half years. In the meantime, the heavy-duty electric truck segment remains the largest trucking segment. Growth in the electric truck segment will be primarily driven by state zero-emission targets as well as improvements in public charging infrastructure. Long-haul trucks that spend days to weeks on the road will be fully reliant on public chargers during their often extended trips, making reliable charging infrastructure key to the growth of the long-haul electric truck segment.
Additionally, the segment will benefit from battery range and performance improvements, increased EV battery manufacturing capacity, and efficient electric vehicles with innovative and advanced driver assistance features. Since China currently has the world’s largest network of public electric vehicle charging infrastructure, dominates the global EV battery manufacturing supply chain, and has over 1,500 EV companies and startups working to advance electric vehicle technology, Beijing already has everything it needs to dominate the global long-haul electric truck market.
The International Energy Agency (IEA) reports that worldwide sales in the electric truck segment jumped by close to 80% in 2024. This was largely due to China, where electric truck sales doubled in 2024, accounting for over 80% of the recorded increase in electric truck sales. If current trends persist, China could soon shape global standards for electric freight. The longer the U.S. waits to invest in this segment, the harder it will be to catch up.
American companies like Mullen Automotive Inc. (NASDAQ: MULN) that specialize in making commercial EVs like cargo vans have the opportunity to master their current market segments and branch out to long haul trucks in order to dominate the domestic market for these vehicles.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer
China’s dominance of the global passenger electric vehicle market is also extending to long-haul electric trucks. In addition to being the largest producer and market for passenger battery electric vehicles (BEVs), China has surpassed both the U.S. and Europe in the adoption of electric trucks. With the Trump administration recently cutting federal electric vehicle subsidies and halting the deployment of public chargers using federal funds, the U.S. risks being left far behind Beijing.
In nearly two decades since the first mass market BEV hit the market, passenger EVs have become the default form factor for electric mobility. Most automakers have focused their efforts on passenger EVs, with outliers like Rivian and Ford developing electric pickup trucks. While players like Nikola Corporation, Lion Electric, and Arrival operate in the electric truck segment, they haven’t made a notable impact on the global stage.
Estimates from economic research company Mordor Intelligence show that the global market for electric trucks will reach $227 billion by the year 2029, expanding from $89 billion in 2025 at a compound annual growth rate (CAGR) of 26%. China will undoubtedly carve out a large portion of this market for itself, especially if the EU and the U.S. don’t step up their efforts to adopt electric mobility.
Mordor Intelligence’s projections state that the medium-duty segment of commercial electric trucks will have a 39% CAGR, the fastest growth rate, over the next three and a half years. In the meantime, the heavy-duty electric truck segment remains the largest trucking segment. Growth in the electric truck segment will be primarily driven by state zero-emission targets as well as improvements in public charging infrastructure. Long-haul trucks that spend days to weeks on the road will be fully reliant on public chargers during their often extended trips, making reliable charging infrastructure key to the growth of the long-haul electric truck segment.
Additionally, the segment will benefit from battery range and performance improvements, increased EV battery manufacturing capacity, and efficient electric vehicles with innovative and advanced driver assistance features. Since China currently has the world’s largest network of public electric vehicle charging infrastructure, dominates the global EV battery manufacturing supply chain, and has over 1,500 EV companies and startups working to advance electric vehicle technology, Beijing already has everything it needs to dominate the global long-haul electric truck market.
The International Energy Agency (IEA) reports that worldwide sales in the electric truck segment jumped by close to 80% in 2024. This was largely due to China, where electric truck sales doubled in 2024, accounting for over 80% of the recorded increase in electric truck sales. If current trends persist, China could soon shape global standards for electric freight. The longer the U.S. waits to invest in this segment, the harder it will be to catch up.
American companies like Mullen Automotive Inc. (NASDAQ: MULN) that specialize in making commercial EVs like cargo vans have the opportunity to master their current market segments and branch out to long haul trucks in order to dominate the domestic market for these vehicles.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer
