Keeping with the theme of ‘Invest in Our Planet’ as part of Earth Day 2022, XCMG is highlighting the urgency of advancing its clean energy business development, as well as the push for research and development in electric power, electric products, and hydrogen energy product upgrades as part of its green efforts.
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In March, XCMG launched the Verdant Mountain Action brand, which followed the group’s release of the first “dual carbon” development guideline in Chinese construction machinery at the beginning of 2022, with the aim of achieving a market penetration rate of 35% for new energy products by 2035.
The Verdant Mountain Action brand was developed as the foundation of XCMG’s latest full-range energy loaders, including charging, external power, power exchange and intelligent models, and multiple LNG loaders, all of which will meet the operational requirements of various application scenarios such as steel, coal, ports and mines and allow customers to reduce emission and see high-value returns.
“Step by step, XCMG is pioneering the high-quality development of green energy technologies and products and facing the challenge of the ‘dual carbon’ goals. It is crucial to elevate the industrial chain and supply chain to mid-to-high-end, and XCMG thrives to create net-zero value for global customers and construction projects,” said Wang Min, CEO and Chairman of XCMG.
At the brand’s launch, XCMG also delivered 10 units of the XC968-EV pure electric loaders to customers in the Shanxi Province. With a rated load of 5.8 tons, which far exceeds the industry’s average 5-ton configuration, the XC968-EV has improved operating efficiency by 16% and has the industry’s largest rated total power of 270KW, a 10% increase in battery life.
In addition, the product is capable of zero-carbon emission, and cuts about 150 tons of carbon annually while saving over 200,000 yuan per year in comprehensive use costs on average.
As one of the pioneers of energy heavy truck manufacturers in China, XCMG has landed several pilot projects of power exchange heavy trucks with top sales performance in the industry. XCMG Automotive is accelerating the development of new energy core components and related technologies to build even more core competitive advantages in the new energy sector.
XCMG's new energy heavy-duty trucks, including pure electric, hybrid power and hydrogen fuel cell products, are leading the charge. In March, 266 new energy heavy-duty trucks were registered, with a total of 882 heavy-duty trucks sold in the first quarter. XCMG is leading the industry for first-quarter sales with a market share of 18.65%, with the new energy motor tractors also ranking at the top. At present, XCMG has more than 2,000 contract orders for new energy trucks with the annual target expected to exceed 5,000.
In March, XCMG has also signed joint-venture agreements with SPIC, Enneagon Energy and Lance Shield Machinery to enter the power exchange equipment production and station construction sectors, a landmark event as XCMG invests in the supporting facilities construction of the new energy industry chain.
XCMG’s recent energy strategic cooperation agreement with GCL, a leading group in wind and hydrogen energy storage and integration of source, network, load and storage, will bring leverage both companies’ advantages in technology, market and resources to carry out extensive cooperation in the fields of power exchange heavy truck product R&D and construction of power exchange stations.
“The development of charging and power exchange is key for XCMG to tackle new technology strategy and expand the new industrial ecosystem, XCMG will implement a series of projects to establish a nationally influential new energy vehicle industry cluster that’ driven by innovation and core competitive advantages,” Wang said.
