Chinese Electric Vehicles' Exports Soar, Global Market Share Expands

In recent years, the export of Chinese electric vehicles has shown a booming trend, with its influence in the international market increasing day by day, becoming a bright business card of China's automotive industry.According to relevant data, from January to October 2024, China exported 105.8 million new energy vehicles, with a significant year-on-year growth. Many Chinese electric vehicle brands have been accelerating their overseas expansion, introducing high-quality products to all corners of the globe.

Fruitful Achievements in Brand Overseas Expansion

BYD: As a leading enterprise in China's new energy vehicle field, it has achieved remarkable results in overseas market expansion. In the first half of 2024, the export of BYD's Seal model alone contributed to the export of over 200,000 electric vehicles, more than doubling the figure compared to last year. Currently, BYD's global footprint has extended to 99 countries and regions. Its performance in the Japanese market is particularly outstanding. In 2023, the Dolphin won the first place in the Japan Electric Vehicle of the Year Award, and the Atto 3 ranked third. In June 2024, the BYD Seal made a strong entry into the Japanese market. With its stylish exterior design, satisfactory dynamic performance and intelligent configurations, it quickly attracted the attention of Japanese consumers and brought a strong market impact to local traditional car manufacturers.

NIO: It has provided products and services in five European countries including Norway, Germany, the Netherlands, Sweden and Denmark, bringing high-end intelligent electric vehicle experiences to European consumers and enhancing the popularity and reputation of Chinese brands in the European high-end market.

Leapmotor: In May 2024, Leapmotor and the European carmaker Stellantis Group established a Leapmotor international joint venture company. Since September, it has entered the European market and has more than 200 dealers in 13 European countries. Its unique full-stack self-research model and cost-effective products have received attention and recognition in the European market.

VOYAH: On December 19, 2024, the VOYAH Zhiyin global version Courage obtained the EU Whole Vehicle Type Approval, which means that the vehicle can be exported in large quantities to 27 EU countries and some non-EU member states that recognize this certificate, and can be officially registered and licensed in all EU countries. The VOYAH Zhiyin global version is equipped with a global 800V high-voltage silicon carbide platform and Qualcomm Snapdragon 8295P chip, possessing strong product power and providing European consumers with a better pure electric option.

Highlights in Commercial Vehicle Exports

The intelligent electric buses manufactured in Hengyang have shown excellent performance in the export of new energy commercial vehicles. In early December 2024, 108 brand-new high-end pure electric city buses were shipped to South Korea, which is the eighth batch of bulk orders for intelligent electric buses exported to South Korea. The advanced electrification platform technology of its parent company, Hengtian Lvling, covers all scenarios of commercial vehicles, with excellent performance of the three-electric system, and can provide a complete electrification solution from the system to the vehicle level. In addition, according to the specific needs of South Korean customers, the intelligent electric buses have been customized in design, making them have a stylish appearance, a spacious and bright carriage, and also possess characteristics such as low energy consumption and low maintenance cost, winning the favor of South Korean customers and improving the overall level of local public transportation. Currently, the products of intelligent electric buses have been exported to nearly 30 countries and regions in Asia, Europe, Africa and America. Products such as airport shuttle buses have also been successfully exported to Charles de Gaulle Airport in France and other European regions.

Meeting Challenges and Innovating for Development

To deal with the high tariffs of the EU, Chinese brands represented by BYD, SAIC and Geely have gradually increased the number of hybrid vehicles exported to Europe to enhance their market share in Europe. According to statistics, in the total sales of Chinese car manufacturers in the European automotive market in the third quarter, hybrid vehicles (plug-in hybrids and mild hybrids) accounted for 18% of the share, doubling compared to 9% in the first quarter of this year, while the share of BEV models decreased from 62% to 58%.

The excellent performance of Chinese electric vehicles in the overseas market is mainly due to the following aspects. First, China has a complete industrial chain of electric vehicles. From research and development, production to parts supply, all links develop in coordination, providing a strong guarantee for the quality and performance of electric vehicles. Second, continuous technological innovation. Enterprises keep increasing R & D investment and have made remarkable progress in battery technology, intelligent driving, vehicle networking and other fields, improving the competitiveness of products. Third, the advantage of high cost performance. Compared with similar foreign products, Chinese electric vehicles are more attractive in price and can provide consumers with more choices. Fourth, the continuously deepening localization strategy. Many car manufacturers have better met the needs of overseas consumers by establishing sales and service networks and developing products that meet local needs.With the increasing emphasis on environmental protection and sustainable development globally and the continuous