Monday, July 15, 2024

Chinese NEV Exports Surge by 27.1% in January 2024

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Exports of Chinese new energy vehicles (NEVs) maintained a robust trend last month, with 95,000 new energy passenger cars exported in January 2024, an increase of 27.1 percent year-on-year, according to data released Thursday by the China Passenger Car Association.

“Exported NEVs accounted for 26.8 percent of the nation’s total exported passenger vehicles during the same month,” the association stated.

See also: China’s New Energy Vehicle Sales Experience January Slump Amid Seasonal Trends

“The scale advantage of China’s new energy industry combined with growing market demand means more Chinese-made new energy product brands are venturing abroad, with their recognition in international markets continuing to grow,” the association said in a statement.

“The price-friendly smaller-sized A0-class pure electric vehicles accounted for nearly 60 percent of Chinese-exported NEV sales in overseas markets last month,” the association added.

See also: BYD Secures Over 20% of Japan’s EV Imports Last Year, Signifying Rapid Market Growth

“Shanghai-based SAIC reported better performance in Europe while BYD emerged as a competitive player in the southeast Asian market in January,” the statement further noted.

The association also highlighted the continuous improvement of service networks overseas by Chinese carmakers, attributing it to the support of Chinese NEV exports.

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