SHANGHAI, June 4, 2024 — SANY Group, a prominent Chinese heavy equipment manufacturer, announced that its total revenue from electric products reached 3.146 billion yuan (US$434.78 million) in 2023, with hydrogen energy products generating 130 million yuan (US$17.97 million) in revenue.
Amid the concurrent transformation of the fourth industrial revolution and the third energy revolution, the global construction machinery industry is experiencing an unparalleled opportunity for advanced technological development.
Steady roadmap with low-carbon product iteration
SANY has taken a head start in the low-carbon sector. Its new energy technology committee, established in 2021, oversees and manages the planning of new energy technology development, patent layout, forward-looking technology R&D and industry incubation.
In 2023, SANY launched more than 130 new energy products, including the world’s first fully electric rotary drilling rig, and hydrogen energy mixing truck equipped with its self-developed fuel battery system. The green products and solutions not only meet the clients’ need for their low-carbon transformation, they are also creating greater value for clients through innovation that reduces full life cycle operation costs significantly.
Green transformation empowered by innovative R&D
To further elevate the Group’s core competitive advantages in the low-carbon market, SANY has been laying out in five major technology directions through independent and strategic cooperation, including battery cell, electric drive bridge technology, VCU centralized control platform, charging and battery switching station, fuel cell system, and control technology.
In 2023, SANY has obtained 275 low-carbon patents and launched three integrated electric drive bridges for tractors, mixers, and dump trucks covering the loading range of 11.5 to 16 tons.
Leveraging strong product competitive advantages and innovative R&D capabilities, SANY is growing in the market. The sales of SANY’s electric mixer trucks increased by 47 percent year-on-year in 2023, maintaining the highest market share for three years consecutively, while the sales of electric cranes continue to lead the industry.
“Looking ahead, SANY will continue to strengthen our R&D capabilities and the core advantages of our products to promote green and sustainable development comprehensively. We’re rooted to lower carbon emissions at the source and throughout our operations to build a full-cycle green production chain that will be fueling the high-quality development of the Group, accelerate industry transformation and upgrading, and contribute to reaching carbon peaking and carbon neutrality goals,” said Xiang Wenbo, rotating chairman of SANY Group.
