Hanma Technology, a subsidiary of Geely Commercial Vehicle Group, announced on Tuesday that it will stop the production of traditional fuel vehicles from December 2025, focusing instead on new and clean energy alternatives, including pure electric vehicles, methanol power, hybrid vehicles and hydrogen fuel cells.
This means that Hanma Technology will become the third Chinese enterprise to announce its discontinuation of fuel vehicle production, after BYD and Changzheng Automobile.
“This time, Hanma Technology announced the timetable for stopping production of fuel vehicles, which is the integration of Geely Commercial Vehicle and Hanma Technology, indicating that Hanma has entered a new stage of development,” said Geely Commercial Vehicle.
As a marque and as the company name in markets outside China, Hanma Technology uses the designation CAMC. As an independent brand of commercial vehicles with a history of more than 50 years, Hanma Technology has been planning its layout in the new energy field for a long time. As early as 2013, Hanma Technology began to experiment in new energy heavy trucks and launched a global research project.
In 2016, Hanma set up an R&D team and successfully designed pure electric heavy trucks through independent R&D, becoming one of the earliest commercial vehicle enterprises in China to enter the field of new energy heavy trucks. In 2018, Hanma launched the first electric tractor in China.
From January to May this year, Hanma Technology sold 1,177 NEVs, accounting for 41.23% of the company’s total sales in the same period. Electric heavy trucks, mainly tractors, mixers and dump trucks, have become the main new energy products of Hanma Technology at present.
A relevant individual in charge of the company once predicted that in 2022, the total sales volume of new energy heavy trucks in China is expected to double to about 25,000 units.
“The popularity of the new energy heavy trucks is heating up rapidly,” said Zhong Weiping, Secretary General of the China Commercial Vehicles Dealers Association. Zhong added that in 2022, domestic policies will continue to stimulate market demand for new energy heavy trucks. For example, 2022 is the key year for local governments to implement the “carbon peaking and carbon neutrality goals,” and it is also the last year for the implementation of the subsidies for NEVs. These favorable policies can promote the sales of new energy heavy trucks to a certain extent.
From January to May, the cumulative sales of new energy heavy trucks in China reached 7,677 units. Among them, Hanma sold 913 trucks, a year-on-year increase of 205%, with a cumulative market share of 11.89%, ranking third in the industry after XCMG Construction Machinery and Sany Group.