Cheap natural gas is spurring Chinese truckers to switch to rigs powered by the fuel, damping the country’s appetite for oil and contributing to a “catastrophic” sales drop for the China unit of one of the world’s largest truckmakers.
While the country’s rapid adoption of electric cars has been in the spotlight, significant change has also been taking place in China’s freight industry.
Analysts said the swift rise of natural gas-powered trucks, particularly heavy-duty vehicles of 14 tonnes and above, had helped thrust China past peak diesel demand and moved it closer to reaching peak oil.
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