Sales of FCEVs rose 46% in China in the first quarter of 2024

801 FCEVs were sold in China in 1Q2024, increasing 46% yoy, according to statistics from the China Association of Automobile Manufacturers (CAAM).

One feature of China's FCEVs market during 1Q2024 was heavy-duty trucks reinforced their leading position. Among these 801 vehicles, 359 were fuel cell heavy-duty trucks, representing 45% of total, followed by 162 buses.

However, whether FCEVs could become the dominant solutions for heavy duty or long haul road transportation in China is quite doubtful. In 1Q2024, 10,546 all-electric heavy-duty trucks were sold in China, increasing 146% yoy. For comparison, FCEV heavy-duty trucks only rose 81% even with a relatively low base of 198 in 1Q2023.

Sales of new energy heavy-duty trucks increased 36.1% yoy in 2023 to 34,560 units in China, according to CAAM.

Sales of all-electric trucks surging by 34.3% compared to 2022, reaching 30,000 units, almost half being battery-swapping trucks. Overall, all-electric heavy-duty trucks dominated the market with an 88.9% share.

Sales of fuel cell heavy-duty trucks surged 46.9% year-on-year, with 3,612 unit sales grabbing 10.6% of the market.

Hybrid heavy-duty trucks witnessed a striking 471.9% increase in sales in 2023, representing a symbolic 183 unit sales.