The number of Chinese electric truck manufacturers eyeing the European market is on the rise, not just for sales but also for production. In October 2024, Windrose Technology unveiled an ambitious expansion plan for Europe, including new facilities in France and Belgium, and even a potential stock market listing. The company, which has so far manufactured electric vehicles in Suzhou, eastern China, aims to raise at least $400 million through a public offering in New York, and potentially in Brussels. This target is double the $200 million goal set last year by founder Wen Han in an interview with Bloomberg News. The funds will be allocated to research and development as well as the production of zero-emission, autonomous trucks.
Wen Han, CEO and president of the company, stated that Windrose recently opened a research and development center in Belgium. The decision to establish a local presence in Europe is less about avoiding the EU's tariffs on Chinese electric vehicle manufacturers, and more about better meeting local demand. Wen emphasized that while it is possible to export trucks from China, the need to provide a better customer experience requires direct local presence and support: "Much of our business is in Europe, so it makes sense to be listed in both markets," said the founder.
Windrose is currently testing its vehicles with companies like Decathlon, real estate group Goodman Group, and Kerry Logistics Network. The trucks have a range of up to 940 kilometers at full load and feature batteries that can reach 60% charge in just 35 minutes. Wen Han—who previously served as Chief Strategy and Financial Officer at U.S.-based Plus, a company developing autonomous trucks—noted that while Windrose is not yet mass-producing vehicles to directly compete with European giants, the company has already received six thousand pre-orders. The announced production capacity is set at 5,000 trucks by the end of 2025.
