The annual sales volume of China National Heavy Duty Truck Group, also known as Sinotruk, hit 500,000 vehicles this year, a year-on-year growth of 68.8 percent, local media reported.

In 2020, Sinotruk reported 48 percent year-on-year growth in revenue and 65 percent year-on-year growth in profits, while its industrial added value increased by 51.7 percent year-on-year.

The increase is partly thanks to reforms and innovations achieved by the company, which has increased investment in research, providing a solid foundation for technological innovation.

The company has invested more than 3 billion yuan ($459.3 million) in research and development, and that number is expected to reach 5 billion yuan next year.

The company's unmanned electric trucks were put into operation at Tianjin port for the first time on Jan 17, 2020.

The vehicles integrate cutting-edge innovative technologies such as artificial intelligence, internet of vehicles, cloud computing and new energy resources.

Equipped with laser radars, high-definition cameras and the Beidou Satellite Navigation System, they can drive safely even in adverse conditions such as foggy and rainy weather.

On Sept 16, Sinotruk launched its new-generation high-end logistics traction heavy truck, known as "Yellow River". It leads China in terms of advanced technology and driving assistance functions.

Starting from next year, Sinotruk will invest 5 billion yuan in R&D every year for five consecutive years.