ZF: China Electric Truck Penetration Around 30%, Europe Still Single Digits
ZF CEO Mathias Miedreich said on September 9 that electric trucks already account for about 30% of China's truck market and are expected to rise to 50%, while European penetration remains in the low single digits. He said the focus of electric drive technology has shifted to China, with major competitors including BYD, Geely's truck business and Windrose Technology. Andreas Moser, head of ZF's commercial vehicle division, revealed that at next week's IAA Transportation show, two of China's three largest truck manufacturers will display models equipped with ZF electric drive systems, and that Chinese automakers' export focus is Northern Europe. Previously, ZF recorded an impairment of about 1.6 billion euros because its passenger car electric drive business fell short of expectations. It is now pushing ahead with restructuring while calling for greater support for hybrid technology to hedge against uncertainty in the pace of Europe's pure electric transition.
2832 days ago
