China’s big trucks go electric and abroad as subsidies help pave road to net-zero freight

Domestic makers of heavy-duty trucks are emerging as the latest beneficiaries of accelerating electrification on China’s roads, as technological gains and lower ownership costs are bolstering overseas sales amid a global energy crisis. Southeast Asia and Africa, where Chinese makers have already established overseas assembly hubs, were expected to serve as new growth engines for companies ranging from FAW Jiefang to Foton Commercial Vehicles, according to analysts at S&P Global Ratings. The two markets “will remain key export destinations for Chinese manufacturers, supported by competitive pricing, strong loading capacity, and a broad product portfolio,” the rating agency said in a…