Since the start of this year, ultra-fast charging has surged in popularity. Particularly against the backdrop of high-capacity electric heavy-duty trucks becoming the mainstream, ultra-fast charging has emerged as a key solution to meet the energy replenishment needs of these vehicles. Thanks to its efficiency and convenience, ultra-fast charging is rapidly gaining market share.

Data from Green Heavy Trucks indicates that the market share of battery-swapping heavy-duty trucks is gradually declining, falling from a peak of over 60% to around 30% today.

Does this mean the battery-swapping model is failing, and that ultra-fast charging is set to completely replace it? In reality, the two are not simply substitutes for one another, but rather complementary technologies suited to different scenarios.

The Evolution of Recharging Models for Electric Heavy-Duty Trucks

Since 2021, new energy heavy-duty trucks have experienced explosive growth, with market sales climbing steadily and charging models evolving rapidly in tandem.

In 2021, due to the relatively high cost of power batteries, the battery capacity of electric heavy-duty trucks was comparatively low, with 282 kWh being the standard, whilst some models featured 423 kWh batteries. Vehicle prices were relatively high at the time; a 282 kWh electric heavy-duty truck cost close to one million yuan, placing significant financial pressure on buyers.

To reduce the initial investment, the battery-swapping model emerged. By separating the vehicle from the battery, it reduced purchase costs and rapidly gained traction in high-frequency usage scenarios such as short-haul transport and port trunk routes.

Xu Xiaodong, Deputy General Manager of Technology at Nengyixing (Suzhou) Technology Co., Ltd. (hereinafter referred to as Nengyixing), told Green Heavy-Duty Trucks that battery-swapping heavy-duty trucks can reduce both the purchase and operational costs of electric heavy-duty trucks: the ‘vehicle-battery separation’ model allows users to avoid purchasing batteries, which account for 40%–50% of the vehicle’s price, thereby significantly lowering the initial purchase threshold; furthermore, as batteries are centrally managed and maintained by a professional platform, this effectively extends battery life and reduces failure rates.They are highly suited to scenarios with fixed routes, such as short-haul port operations, mining transport and trunk logistics. When paired with a charging and battery-swapping trunk network, they can provide both fixed-point recharging and meet the energy needs of long-distance transport, thereby alleviating range anxiety.

Given the clear advantages of battery-swapping heavy-duty trucks, their sales have risen steadily, reaching a peak market share in 2023, with a monthly market share exceeding 60% at its highest point, making it the mainstream energy replenishment model for electric heavy-duty trucks.

However, with advancements in battery technology and falling costs—particularly in 2024, when power battery prices plummeted—the cost of purchasing the vehicles has dropped significantly, thereby diminishing the cost-saving advantages of the battery-swapping model.

Owing to the fall in power battery prices, high-capacity electric heavy-duty trucks—which can rapidly and directly extend the vehicle’s range—have gained favour with operators, leading to a rapid rise in market demand for such vehicles. In the first half of 2025, high-capacity electric heavy-duty trucks (with a battery capacity exceeding 400 kWh) accounted for over 50% of the market, becoming the mainstream choice.

As high-capacity electric heavy-duty trucks are equipped with relatively large power batteries, the majority of such vehicles adopt a charging model, placing higher demands on charging speeds and driving the accelerated adoption of high-power DC fast-charging technology.

Ultra-fast Charging vs Battery Swapping

The rapid growth of high-capacity electric heavy-duty trucks has placed greater demands on energy replenishment efficiency, with charging power increasing year on year, rising from the early 120kW to the application of 480kW and even 1,000kW ultra-fast charging technology.

Today, the iterative application of ultra-fast charging technologies exceeding 1,000 kW and even reaching 2.5 MW has not only reduced refuelling times but also enhanced operational efficiency, significantly shortening the time required to refuel electric heavy-duty trucks.

Thanks to its efficient and convenient charging experience, ultra-fast charging technology is gradually becoming the mainstream choice for high-capacity electric heavy-duty trucks, with its advantages particularly evident in scenarios with strict time constraints, such as long-haul logistics.

Compared to the battery-swapping model, which relies on specialised equipment and site layout, the construction of ultra-fast charging networks is more flexible, has a lower investment threshold, and is easier to scale up. As liquid-cooled ultra-fast charging technology matures, balancing charging efficiency with battery life, it further alleviates users’ concerns about fast charging damaging batteries, driving the continued rise in sales of battery-electric heavy-duty trucks.Data from Green Heavy-Duty Trucks shows that between January and October 2025, a total of 106,961 battery-electric heavy-duty trucks were sold, representing a year-on-year increase of 226.23%. Of these, 14,240 units were sold in October alone, marking a year-on-year rise of 182.15%.

With the clear advantages of ultra-fast charging, the market space for battery swapping is being squeezed. Will the battery swapping model be phased out?

Xu Xiaodong, Deputy General Manager of Technology at Nengyi Xing, told Green Heavy Trucks that battery swapping and fast charging are not mutually exclusive; rather, the two will be deeply integrated. Battery swapping stations can be equipped with fast-charging facilities to improve site utilisation, whilst fast-charging technology can shorten the battery replenishment cycle at swapping stations. Given the current lack of standardisation in swapping stations, a model where swapping dominates in enclosed scenarios whilst fast charging is utilised for trunk-line recharging will become the mainstream approach.

Sales figures show that from January to October 2025, 48,952 battery-swap heavy-duty trucks were sold, representing a year-on-year increase of 142.58%. In October alone, 5,697 units were sold, a year-on-year rise of 108.99%. These figures strongly confirm the growing acceptance of the battery-swap model within the heavy-duty truck sector.

It is evident that the battery swapping model retains irreplaceable advantages in the heavy-duty truck sector, particularly in high-frequency, short-distance transport scenarios such as mining areas, ports and steel mills, where its high energy replenishment efficiency and strong operational organisation remain significant. Its standardised battery packs and rapid replacement mechanism enable vehicles to be swapped as soon as they stop, effectively avoiding the downtime associated with lengthy charging and ensuring the continuity of high-intensity operations.

Xu Xiaodong believes that as economies of scale take effect and costs such as battery depreciation decrease, the cost of battery swapping will fall further, gradually widening the cost advantage over diesel and natural gas-powered heavy-duty trucks. Furthermore, battery swapping stations will incorporate big data and remote monitoring technologies to enable battery condition forecasting and predictive maintenance of equipment, thereby enhancing operational efficiency.

Xu Xiaodong explained that Nengyixing’s battery swap station equipment supports adaptive gripping for multiple vehicle models and is compatible with standardised battery packs from different brands, offering strong adaptability. It possesses millisecond-level data collection capabilities, monitoring over 10 parameters in real time—including battery voltage, temperature, SOC and SOH—to predict trends in battery safety, performance and lifespan.

Xu Xiaodong emphasised that Nengyixing has established a three-tier response mechanism, equipped with 24/7 online customer service and a remote technical team, enabling efficient service delivery and enhancing the operational and maintenance efficiency of heavy-duty truck battery swap stations.

Battery Swapping and Ultra-Fast Charging Will Coexist Long-Term

Battery swapping and ultra-fast charging are essentially two distinct pathways for efficient energy replenishment, rather than mutually exclusive alternatives; they will coexist within the ecosystem for the long term.

Ultra-fast charging pursues the ultimate in charging speed and is theoretically suitable for all scenarios; however, as the application scenarios for electric heavy-duty trucks continue to expand, ultra-fast charging faces challenges in large-scale deployment in certain scenarios due to constraints such as grid load, land resources and distribution capacity.

Battery swapping, on the other hand, allows for concentrated charging during off-peak hours, placing minimal strain on the grid. It is better suited to high-density operational areas, particularly in scenarios requiring high-frequency operations. Through centralised energy replenishment and unified scheduling, the battery swapping model effectively mitigates the instantaneous high-load demands on the grid associated with ultra-fast charging. In enclosed environments such as mining sites and ports, battery swapping enables round-the-clock, high-frequency operations, ensuring that transport efficiency is not compromised by charging wait times.

Xu Xiaodong told Green Heavy Trucks that Nengyi Xing’s battery swapping equipment uses big data algorithms to optimise battery rotation strategies, prioritising the dispatch of fully charged batteries to reduce vehicle waiting times; some units integrate energy storage modules to store off-peak, low-cost electricity, thereby reducing operational costs whilst alleviating the impact on grid load.

Summary

The battery swapping model continues to deliver value in high-frequency, short-haul heavy-duty truck scenarios thanks to its efficient energy replenishment and operational organisation advantages. As technology evolves and economies of scale take effect, its potential in cost control, grid coordination and intelligent operation and maintenance is being realised at an accelerating pace.

Ultra-fast charging provides efficient energy replenishment and is suitable for trunk logistics scenarios with well-developed road networks, low transport frequency but long single-trip distances, meeting the demand for rapid energy replenishment during brief vehicle stops.

The coordinated development of battery swapping and ultra-fast charging can establish a diverse and complementary energy network for heavy-duty truck electrification, effectively driving the electrification process. The combination of the two can cover a wider range of operational scenarios, improve energy utilisation efficiency, and enhance the adaptability and cost-effectiveness of electric heavy-duty trucks.