The extreme transportation capacity of thousand-ton or ten-thousand-ton-level sites reflects a country’s comprehensive scientific, technological, and national defense strength. The multi-vehicle collaborative transportation technology of self-propelled modular transporters (SPMT) is a key tool for completing large-scale engineering extreme transportation tasks. Currently, SPMTs face technical bottlenecks such as reliance on manual operation, low control accuracy, and poor collaborative efficiency, which hinder the efficiency and precision of major engineering transportation projects. This paper summarizes the development history, characteristics, current status, existing problems, and technical challenges of multi-vehicle collaborative transportation technology for SPMTs, based on both domestic and international progress. It proposes the following development suggestions: ① Develop a new generation of ten-thousand-ton-level extreme transportation capabilities through organized scientific research paradigms, positioning it as a national heavy-duty transportation tool. ② Overcome the challenges of distributed electric drive transportation technology and promote the green and intelligent transformation of SPMTs. ③ Build a virtual-real integrated testing system to break through the theoretical and core technological verification of swarm control. ④ Strengthen the top-level design of technological innovation to create a deep integration ecosystem involving government, industry, academia, and applications.