Ningde, Guoxuan, XWANDA, and Yiwei Launch New Products! Why Have Heavy-Duty Truck Batteries Become So Desirable?

In less than a month, several independent battery manufacturers, including Ningde Times, Guoxuan High-Tech, XWANDA, and Yiwei Lithium Energy, have announced the release of heavy-duty truck-specific power batteries. This previously overlooked market seems to be emerging as a new blue ocean for the power battery industry. Will it become a core growth area for battery manufacturers in the future? This article provides an in-depth analysis.

Battery Manufacturers Enter the Heavy-Duty Truck Market

Recently, multiple battery companies have launched heavy-duty truck-specific power batteries, viewing the heavy-duty truck supporting market as a crucial strategic position. On May 18, Ningde Times unveiled the world’s first 75# heavy-duty truck battery with a battery swap standard and a full-scenario chassis battery swap solution. On May 17, Guoxuan High-Tech introduced its first heavy-duty truck power battery—the G-series heavy-duty truck standard box—at the 2025 Global Technology Conference. On May 9, Yiwei Lithium Energy showcased eight commercial vehicle batteries, including those for heavy-duty trucks, during the first Commercial Vehicle Battery Technology Day. Additionally, on April 24, XWANDA Power held a launch event at the Shanghai Auto Show to present the industry’s first large-capacity supercharging battery cell designed specifically for heavy-duty trucks.

As third-party battery manufacturers, Ningde Times, Guoxuan High-Tech, XWANDA, and Yiwei Lithium Energy are collectively entering the new energy heavy-duty truck supporting market due to the market’s imminent explosive growth. However, is this blue ocean truly filled with opportunities or fraught with hidden dangers?

Accelerated Electrification Rate in the New Energy Heavy-Duty Truck Market

The new energy heavy-duty truck market is on the verge of explosive growth, driving a significant increase in demand for power batteries and creating a highly promising market landscape for battery manufacturers. Many battery companies are targeting the new energy heavy-duty truck battery market, recognizing the potential for growth. Starting in 2024, fueled by the dual carbon policy and the advantages of lower operating costs, the new energy heavy-duty truck market is expected to see a dramatic increase. Data from compulsory insurance indicates that in 2024, domestic new energy heavy-duty truck sales are projected to reach 82,000 units, a staggering 140% increase year-on-year, with penetration rates climbing from 5% over the past two years to 13.6%. In the first four months of 2025, cumulative sales of new energy heavy-duty trucks reached 46,000 units, representing a 196.7% year-on-year increase, indicating a strong ongoing growth trend in the market.

Industry experts suggest that once the penetration rate of new energy heavy-duty trucks surpasses 10%, the market will enter a period of explosive growth, with ample room for future expansion. “By 2025, the sales of new energy heavy-duty trucks are expected to exceed 150,000 units, with penetration rates surpassing 20%. Over the next five years, the market is projected to maintain a compound annual growth rate of over 30%, potentially reaching a penetration rate of over 50% by 2030.” If the penetration rate exceeds 50% by 2030, this would imply an annual demand increase of around 400,000 units. Although this figure may seem modest, the battery capacity for heavy-duty trucks far exceeds that of passenger vehicles, resulting in significant overall battery demand.

Currently, the battery capacity for a single electric heavy-duty truck typically exceeds 460 kWh, with some models reaching 660 kWh or even 800 kWh. In contrast, the average battery capacity for a passenger vehicle is about 60 kWh. Thus, the battery capacity of one electric heavy-duty truck is equivalent to that of eight passenger cars. By this estimation, the future demand for batteries in the new energy heavy-duty truck market will equal that of approximately 3.2 million electric passenger vehicles, making this market highly attractive for investors.

Opportunities for Independent Battery Manufacturers

For independent battery manufacturers, the passenger vehicle battery market is currently facing severe overcapacity, with many major passenger vehicle manufacturers establishing their own battery production capabilities. In contrast, it may not be economically feasible for new energy heavy-duty truck manufacturers to produce their own batteries. Independent battery manufacturers can provide stable and long-term battery supply to heavy-duty truck companies. In the passenger vehicle market, established manufacturers, many of which sell over one million units per year, are increasingly turning to in-house battery production to reduce reliance on external suppliers and enhance profit margins. This trend mirrors the logic of in-house engine production during the era of fuel vehicles.

In contrast, the heavy-duty truck industry has a significantly different market scale. Leading heavy-duty truck manufacturers sell around 200,000 units annually, while most companies sell fewer than 50,000 units. The limited production capacity does not support the vast resource investment required for in-house battery research and development. The core processes of battery manufacturing, particularly cell research and development, involve complex interdisciplinary technologies that differ greatly from the mechanical engineering characteristics of vehicle manufacturing. If heavy-duty truck companies attempt to venture into cell production, they would require substantial investments of capital, talent, and time, which is impractical for many smaller manufacturers. Therefore, it is likely that future new energy heavy-duty truck companies will opt to procure third-party cells or battery packs rather than establish their own production lines.

Historically, many heavy-duty truck companies did not manufacture their own engines, with the number of independent diesel engine brands far exceeding that of gasoline engines. It is anticipated that in the new energy era, a significant number of heavy-duty truck companies will continue to source batteries externally rather than produce them in-house. Consequently, as passenger vehicle manufacturers gradually achieve battery self-sufficiency, heavy-duty and commercial vehicle companies are set to become significant customers for third-party battery manufacturers. For companies like Guoxuan High-Tech, deeply engaging in the new energy heavy-duty truck and commercial vehicle market is not only a necessary option for revenue expansion but also a critical strategic move for capturing future market share.

Challenges and Risks Ahead

While the market outlook is promising, many battery manufacturers must confront the challenges posed by the oligopolistic structure of the heavy-duty truck battery market, primarily dominated by Ningde Times, and face the risks associated with technological iteration. Currently, Ningde Times holds around 80% market share, creating a competitive landscape that significantly favors incumbents. New entrants will find it challenging to capture market share from established players. This recognition process is a considerable challenge for many battery companies. To address these challenges, Guoxuan High-Tech‘s G-series battery directly targets industry pain points. According to Xu Bangnan, Vice President of Guoxuan High-Tech’s China operations, the G-series battery features a single pack design with 116 kWh, an energy density of 175 Wh/kg, and supports flexible capacity expansion from 200 to 1000 kWh, alleviating range anxiety. Additionally, it integrates four-gun simultaneous charging technology with a 1000V high-voltage platform to achieve megawatt-level supercharging, enhancing charging efficiency by 30%. The comprehensive smart control system ensures efficient charging even in -30°C environments, and it introduces a pioneering “zero degradation” technology, maintaining battery capacity without loss for the first 3000 cycles, supporting a driving range of 1.2 million kilometers and an exceptionally long lifespan of 12 years.

However, technological advantages are merely a stepping stone. For Guoxuan High-Tech to secure a foothold in the market, it must establish deep collaborations with vehicle manufacturers. As a new entrant, gaining recognition from vehicle manufacturers and forming supportive relationships will be a significant hurdle. According to recent announcements, brands such as Yuanlong, Jiefang, Shanqi, and Dongfeng have begun to integrate Guoxuan batteries into their systems. Furthermore, technology iteration presents potential risks. While it is almost certain that passenger vehicles will predominantly adopt pure electric technologies, heavy-duty and commercial vehicles, being production materials, may shift toward alternative technologies (such as hydrogen fuel or hybrid systems) if more cost-effective operational solutions emerge. Logistics companies and users prioritize vehicle operating costs, which directly affect profitability.

In summary, while the new energy heavy-duty truck battery sector is vibrant, participants must remain cognizant that both technological innovation and market acceptance are essential. Many new entrants have made significant strides with technological breakthroughs, but gaining a foothold in the market dominated by Ningde Times is no small feat. For investors, this blue ocean is filled with both enticing opportunities and hidden pitfalls.