China's new-energy vehicle (NEV) exports reached 1.384 million units in the first four months of the year, up 1.2 times year-on-year, according the China Association of Automobile Manufacturers (CAAM). A Chinese industry analyst said that the trend highlights the growing global popularity of Chinese NEVs, driven by rising demand for green transformation. The analyst also noted that China's NEV development has provided global consumers with more choices and contributed to faster technological iteration and cost reductions. In April alone, production of NEVs reached 1.32 million units, up 5.5% year-on-year, while sales totaled 1.344 million, up 9.7%. NEV sales accounted for 53.2% of total new car sales during the month, according to the CAAM. On the export side, NEV shipments totaled 430,000 units in April, up 1.1 times year-on-year.
“The rapid growth in exports reflects strong international demand for China-made NEVs,” Cui Dongshu, Secretary General of the China Passenger Car Association, told the Global Times, noting that this industry growth is closely linked to advances in electrification technologies and aligns with the global trend of green transition. The continued growth in NEV exports, together with technological progress, shows that China's automotive industry is developing in an open and cooperative way, said Cui.
At the recently concluded Beijing Auto Show, multiple foreign car brands, including BMW and Mercedes-Benz, showcased new electric vehicles (EVs) developed with Chinese technology in an effort to stay relevant in the world's largest car market. Last year, China's NEV production and sales both exceeded 16 million units, ranking first in the world for the 11th consecutive year. Against this backdrop, a workshop held alongside an Asia-Pacific Economic Cooperation (APEC)-related meeting in Shanghai brought together government officials and industry representatives from China and abroad to discuss cooperation in the vehicle sector, including electrification and supply chains. Speaking on the sidelines of the workshop, Ausein Wirojtacha, Analyst at the Office of Industrial Economics under Thailand's Ministry of Industry, told the Global Times that decarbonization "is something we must pursue," which means accelerating the development of electric vehicles (EVs) and electrified vehicles.
In related news, the South China Morning Post reports that JPMorgan predicted that Chinese smart cars would control 20% of the western European market by 2028. Chinese carmakers were expected to deliver 2.5 million cars to customers in western Europe in 2028, a surge of 150% from about 1 million units last year, Nick Lai, head of auto research in the Asia-Pacific at JPMorgan, said. Last November, McKinsey forecast that up to five Chinese vehicle assemblers were likely to make the list of the world’s top 10 carmakers by 2030, disrupting the pecking order in the global automotive industry.
