China’s new energy vehicle exports surge 130% year-on-year

August 24, 2022 0 Comments

In the first half of this year, China’s new energy vehicle (NEV) exports reached 202,000 units, a year-on-year increase of 1.3 times, accounting for 16.6% of total vehicle exports, according to data released by the China Association of Automobile Manufacturers (CAAM).

This followed China’s strong export performance in July, when 54,000 NEVs were shipped out, representing a 37.6% rise year-over-year.

NEV exports by foreign-funded enterprises and joint ventures in China accounted for about two-thirds of the country’s total NEV exports, according to Xu Haidong, deputy chief engineer at the CAAM.

In the first six months, Tesla’s Shanghai Gigafactory exported nearly 100,000 new energy vehicles, more than double the amount exported in the same period last year.

During the period, 34% of China’s total NEV exports during that time went to Western Europe, and Belgium was China’s top NEV importer, according to the China Passenger Car Association (CPCA).

China’s advanced manufacturing capabilities and cost-effective production system have afforded it advantages in NEV sector in recent years, resulting in an increase in exports. The country exported 310,000 NEVs in 2021, an increase of around 304.6% from the previous year.

In addition to foreign-funded companies such as Tesla, Chinese auto brands are also exporting more vehicles. 

BYD, China’s leading NEV manufacturer, exported 2,177 NEV passenger cars in June this year. The company sold 641,350 NEVs in the first half, surpassing Tesla’s 564,000 units to become the world’s top-selling NEV maker.

Leave a Reply

Your email address will not be published. Required fields are marked *