Shipments of NEVs, which include electric vehicles and plug-in hybrids, soared 160% year-on-year to hit 534,000 units between January and June. Russia, Mexico and Belgium were among the top three destinations for China’s vehicle exports, while Belgium, the United Kingdom and Thailand were popular destinations for NEVs from China, said the General Administration of Customs (GAC), based on exports in the first five months of the year. China’s vehicle exports jumped in the first half, propelled in part by increased demand for NEVs. Of the total 2.14 million vehicles shipped overseas, 1.78 million units were passenger vehicles, up 88.4% from the same period last year, while buses and trucks made up 361,000 units, up 31.9%, according to the China Association of Automobile Manufacturers (CAAM). China overtook Germany as the world’s second-largest vehicle exporter in 2022. Since then, more Chinese carmakers have been eyeing the potential in overseas markets.
Statistics from CAAM show that sales of China-made premium vehicles from both Chinese and international brands totaled 2.03 million units in the first half, up 19.7% year-on-year. Sales of NEVs hit a record as well. A total of 3.75 million EVs and plug-in hybrids were sold in the country in the first half, up 44.1% year-on-year and accounting for 28.3% of all new vehicle sales in the same period. The automobile industry body expects total NEV sales to hit 9 million units this year, up from 6.89 million in 2022.
In the past two weeks, five companies, including GAC’s electric arm
Aion, have unveiled plans to go global. Aion inked a deal with Thai distributor Gold Integrate in late June and is planning to build a subsidiary in Thailand later this year which will be in charge of its business in Southeast Asia. Thailand is the largest automobile manufacturer and exporter in Southeast Asia, with its EV industry supported by favorable policies including tax reductions and cash subsidies, said Aion.
SAIC Motor, China’s largest vehicle maker by sales, said it is looking for a location in Europe for a vehicle manufacturing plant. Europe is expected to become the company’s first overseas market where annual sales will exceed 200,000 units, said Yu De, Managing Director of SAIC’s International Business Department. Last year, SAIC’s sales in the European market surpassed 100,000 units.
Zeekr, a premium electric brand under Geely Holding Group, said that it will start pre-sales of two models in Israel in the fourth quarter of this year. The foray into the Middle Eastern market comes days after its announcement to enter Europe, with deliveries to start in Sweden and the Netherlands later this year. Zeekr said it will launch its vehicles in other European markets including Denmark, Germany, France and Norway in 2024.
China’s NEV exports are likely to hit 1.3 million units this year, according to an estimate by market research firm Canalys. NEV shipments reached 679,000 units in 2022, said the China Association of Automobile Manufacturers (CAAM). Besides surging exports, carmakers have seen sales soar in the domestic market as well. They produced 13.25 million vehicles in the first half and delivered 13.24 million units, up 9.3% and 9.8% year-on-year, the China Daily reports.
