Iran war to accelerate China's shift to electric trucks from diesel

China's heavy truck fleet is expected to accelerate its shift to electric trucks due to the jump in diesel prices triggered by the Iran war. Electric heavy truck sales have grown significantly over the last two years, accounting for nearly a third of new heavy truck purchases in 2025. This growth is expected to continue, with April sales of heavy electric trucks expected to grow 30% driven by stronger seasonal demand and higher oil prices.