Chinese construction equipment manufacturer Sany reported its total revenue from both electrically powered and hydrogen-powered machines for 2023. According to the company, revenue from electric products reached CNY 3.1 billion (US$434.8 million), while sales of hydrogen energy products amounted to CNY 130 million (US$17.8 million).

Ranked as the sixth largest construction equipment manufacturer globally by annual revenue in US dollars, Sany's total revenue for 2023 was US$10.2 billion, according to the Yellow Table 2024. This indicates that electric product sales represent approximately 4.3% of Sany’s total sales, whereas hydrogen products account for less than 0.2%, highlighting the nascent stage of hydrogen technology.

In 2023, Sany launched over 130 'new energy' products, including the world's first fully electric rotary drilling rig and a hydrogen energy mixing truck equipped with its self-developed fuel battery system. Additionally, the company secured 275 low-carbon patents and introduced three integrated electric drive bridges for tractors, mixers, and dump trucks with loading capacities ranging from 11.5 to 16 tons.

While Sany did not provide a geographical breakdown of new energy machine sales, it is anticipated that the majority occurred in China, where the market for electric machines is more advanced than in many other regions. Notably, sales of Sany's electric mixer trucks increased by 47% year on year in 2023, and the company also reported robust sales of electric cranes.

Looking forward, Xiang Wenbo, rotating chairman of Sany Group, stated, “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 fuelling the high-quality development of the group, accelerate industry transformation and upgrading, and contribute to reaching carbon peaking and carbon neutrality goals.”