Electric Trucks Are The Latest Threat to Oil Demand in China
More and more Chinese trucks are being powered by batteries, another sign that oil-based fuels are getting shoved to the sidelines in an increasingly electrified economy.
Government incentives are boosting sales of electric trucks in a sector that has traditionally run on diesel, a fuel that makes up over a quarter of Chinese oil demand. Gasoline, which accounts for more than a fifth, is already in long-term decline because of the rapid adoption of battery-powered cars.
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