Exploring the Rise of Long-distance New Energy Commercial Vehicles: A 120% Growth Rate in Five Years

Automotive Insights | Five-Year Sales Compound Growth Rate Approaches 120%: How Long-Distance New Energy Commercial Vehicles Became an Industry “Dark Horse”

According to the latest data released by the China Association of Automobile Manufacturers, the penetration rate of new energy in the commercial vehicle market reached 30% in September. This marks a significant increase from 19.6% for the entirety of 2024 and shows over a tenfold growth from 2.7% in 2020. New energy commercial vehicles have transitioned from being an optional product to a necessity.

Moreover, the driving logic behind new energy commercial vehicles has shifted from being primarily influenced by policy subsidies to a new phase where technological advancements and market demand are jointly propelling growth. From January to September this year, Long-Distance New Energy Commercial Vehicle Company (hereinafter referred to as “Long-Distance”) reported cumulative sales of 107,000 units, a year-on-year increase of 49.5%, achieving a compound annual growth rate of nearly 120% over the past five years, thus establishing itself as a model for green transformation in the commercial vehicle sector and a breakout “dark horse.”

Technological Breakthroughs: Driving the Green Transformation of Commercial Vehicles

The surge in the penetration rate of new energy commercial vehicles is not due to a single factor. Industry experts note that prior to 2020, industry growth heavily relied on vehicle purchase subsidies, and when these subsidies decreased, some companies faced stagnation in their transition. However, in recent years, ongoing optimizations in new energy technology, improved supporting infrastructure, and advancements in intelligent management have allowed new energy commercial vehicles to surpass traditional fuel vehicles in terms of economy, efficiency, reliability, and convenience, making them the preferred choice for logistics companies.

For instance, the battery developed by Long-Distance specifically for new energy commercial vehicles, known as the Xuanwu Battery, integrates an eleven-in-one assembly comprising PMS, BMS, and other technologies. It was the first to pass the GB38031-2025 national standard, recognized as the “strictest battery safety regulation in history,” and it is the first in the industry to offer a ten-year warranty for 800,000 kilometers, covering the entire lifecycle of new energy commercial vehicles.

The enhancement of supporting infrastructure has further lowered usage barriers, effectively improving the operational efficiency of new energy commercial vehicles and accelerating their replacement of traditional fuel vehicles. Long-Distance has cultivated a methanol-hydrogen eco-technology that promotes a synergistic development model involving methanol preparation, refueling, and methanol-hydrogen power. By adopting flexible site construction modes around user operational scenarios, Long-Distance has established over 900 methanol refueling stations along key routes and regions across the country, providing robust support for the promotion of methanol-hydrogen electric commercial vehicles.

Growth Logic of Long-Distance Commercial Vehicles: Technological Barriers and Ecological Cycles

Industry insiders highlight that the growth of the new energy commercial vehicle sector is now in a fierce competitive stage. Traditional fuel commercial vehicle brands are rapidly launching new energy product lines, while emerging companies leverage their smart technology to penetrate niche markets. Nevertheless, industry concentration continues to rise, with companies that possess core technologies and mature business models showcasing pronounced advantages.

From January to September, Long-Distance sold 107,000 units out of 566,000 units in total sales of new energy commercial vehicles nationwide, giving Long-Distance a market share approaching 20%. In the electric vehicle segment, Long-Distance has established Zhixin Technology, which focuses on developing core three-electric technologies tailored for commercial vehicle needs, creating two main core technologies: intelligent cloud control and core integration. This results in advantages such as high efficiency, lightweight, low cost, and extended warranties for the three-electric system.

Long-Distance new energy commercial vehicles equipped with the methanol-hydrogen electric system can serve all domestic usage scenarios, ranging from Mohe to Turpan and from plains to plateaus. As a liquid new energy source, methanol-hydrogen electric technology offers economic, environmental, safety, and sustainability benefits, enriching the technological pathways for vehicle electrification and aiding in addressing energy security and emission reduction challenges in the transportation sector, thereby providing users with a more favorable TCO (Total Cost of Ownership).

In terms of business model, Long-Distance has launched its “Ecological 3.0 Strategy”, promoting the integration of dealers, operators, and service providers into a synergistic network. This strategy enables comprehensive empowerment in management standards and intelligent management tools, building a partner ecosystem that covers all regions and facilitating the transformation of companies from “manufacturing enterprises” to “ecological service companies.” As a new force in the commercial vehicle industry, Long-Distance incorporates user-focused and scenario-based thinking into its vehicle development process, emphasizing user-driven positive research and ecological reconstruction of the industry landscape.

With a focus on the synergies between “vehicles and goods,” “vehicles and energy,” and “vehicles and the environment,” Long-Distance is building a comprehensive industry ecosystem.

Core Valuation Logic: Growth Certainty and Differentiated Advantages

From a capital perspective, the core value of Long-Distance lies in its growth certainty during the industry transition period. Sales data shows that Long-Distance has achieved a compound growth rate of 120% over the past five years, experiencing exponential growth. Specifically, in September, Long-Distance’s monthly sales exceeded 17,000 units, which is four times the total sales from five years ago. In the segmented market, Long-Distance’s share of the new energy logistics vehicle market surged from 5.2% in 2020 to 21.1%, ranking third in the comprehensive “oil-electricity” listings for two consecutive months. This leading position in the niche market further consolidates its product value and influence.

Meanwhile, the overseas market represents a secondary growth avenue, with Long-Distance achieving the highest export volume in markets including the UK, Spain, Belgium, and Australia. From a valuation standpoint, the core valuation logic of new energy commercial vehicle companies has shifted from “policy dividends” to “technological barriers + ecological capabilities.” Long-Distance has established differentiated advantages in research and development investment, patent numbers, and ecological coverage.

Leveraging support from the Geely Holding Group’s Central Research Institute, Long-Distance has established the largest new energy commercial vehicle research institute in China, bringing together over 2,000 R&D engineers globally, focused on developing new energy and intelligent technologies for commercial vehicles. To date, it has filed more than 4,000 patents, including numerous core technology patents related to new energy vehicles, and has led or participated in the development of 86 national, industry, and group standards.

The increase in the penetration rate of new energy commercial vehicles is essentially a reflection of the zero-carbon transition in China’s transportation sector. Considering that new energy commercial vehicles account for 5.3% of the total vehicle ownership, there remains significant potential for vertical replacement in the market. Investment professionals believe that as the industry shifts from “growth competition” to “replacement of existing stock,” companies with technological moats and ecological capabilities are more likely to maintain a competitive edge in the long term. Long-Distance, as a leading company with a record of 41 consecutive months of top sales, is poised to occupy a central position in the burgeoning trillion-yuan green commercial vehicle industry.