China invests $2.9 trillion in energy, targeting electric trucks and renewables by 2030

China announced a plan to spend roughly 20 trillion yuan (about $2.9 trillion) on its energy sector through 2030. The programme will raise total electricity generation capacity to 5.4 terawatts, with renewable sources expected to supply more than half of that output. Major grid upgrades include 5 trillion yuan (≈ $722 billion) for transmission, adding ultra‑high‑voltage lines and expanding storage capacity.

A key component of the strategy is the electrification of heavy‑duty transport. China aims for electric trucks to account for 40 % of sales by 2030, supporting a fleet of 1.6 million vehicles and building a dedicated charging network of about 3,000 stations. The plan also envisions rapid growth of electric passenger vehicles, from 44 million in 2025 to 110 million by 2030, and an increase in charging points from 22.5 million to 40 million. Advanced concepts such as vehicle‑to‑grid (V2G) integration, green hydrogen production, and AI‑driven energy management are included to underpin the transition.