Sinotruk: Heavy Duty Truck Sales Ranked Second in the Industry in 2021

Shanghai Securities News China Securities Network News On December 30, the 2022 Cloud Business Conference of China National Heavy Duty Truck Group with the theme of "Creating Value and Leading the Times" released the news that Sinotruk's heavy-duty truck sales in 2021 increased by 86% compared with 2019, and the annual market share reached 20.5%, an increase of nearly 3 percentage points year-on-year, ranking second in the industry.

In terms of specific products, tractor sales increased by 130%, the market share increased by 9 percentage points; truck sales increased by 313%, the market share increased by 7 percentage points; light truck sales increased by 28%, the market share increased by 1 percentage point. The export volume of heavy-duty vehicles accounts for more than 50% of China's total exports, and the sales volume will exceed 50,000 in 2021, becoming the single-brand enterprise with the largest export volume in the world.

In the past two years, Sinotruk has accelerated the adjustment of product structure, deepened market segment research, and comprehensively enhanced product competitiveness, which has strongly supported the rapid increase in sales volume and market share. According to reports, Sinotruk has achieved full coverage in 28 market segments and 81 application scenarios.

Relying on its rich product structure and in-depth understanding of market segments, Sinotruk has created a differentiated competitive advantage, comprehensively laid out the three major technical routes of pure electric, hybrid and hydrogen fuel cells, and developed a full range of new energy commercial vehicle products for four major categories of traction, cargo, engineering and special purposes.

Sinotruk hydrogen fuel cell, unmanned electric heavy truck to achieve the application of ports, parks, steel mills and other scenarios, the company's independent research and development of domestic snow wax vehicles using hydrogen fuel cells, pure electricity two new energy models, successfully delivered to the State General Administration of Sport for the upcoming Winter Olympics use; 30 sets of power exchange heavy trucks delivered to Rizhao Port, providing high-quality solutions for the construction of smart and green ports; 300 sets of electric shuttle tractors successfully delivered to Xiwang Group, but also to provide guarantee for low-carbon and green transportation for customers.

In the face of the new energy revolution, Sinotruk regards power system research as the key direction of the future. On the one hand, Sinotruk proposes that the traditional powertrain should integrate the strongest technology of 50% thermal efficiency diesel engine, AMT and drive axle to achieve the goal of near-zero carbon emissions and maintain the global leadership; the hybrid powertrain should fully meet the requirements of the fourth phase of fuel consumption regulations, and take the lead in achieving breakthroughs in the fields of trunk logistics tractors, national highway transport vehicles and engineering vehicles. On the other hand, Sinotruk has proposed that the new energy power system should fully grasp the key core technologies such as fuel cell systems, drive motors and controllers, and electric drive bridges, and take the lead in establishing a global competitive advantage in the field of commercial vehicles. (Tan Pengpeng)