China’s electric vehicle (EV) exports surged by 100% in September compared to the same period last year, reaching 222,000 units, according to the China Association of Automobile Manufacturers. This growth underscores the aggressive expansion of Chinese automakers into international markets, particularly Europe and Southeast Asia. While the figure was slightly lower than August’s 224,000 units, it highlights the increasing reliance on overseas markets due to overcapacity and intense price competition domestically. The U.S.-based consultancy Rhodium Group noted that Chinese EV manufacturers invested more abroad than domestically in 2023, marking a significant shift since 2014. BYD, one of China’s leading EV producers, reported an 880% year-on-year sales increase in the United Kingdom, now its largest market outside China. However, domestic passenger car sales growth slowed to 11.2% in September, down from 15% in August. Chinese automakers are also diversifying their investments into the Middle East and Africa, partly in response to high tariffs imposed by the European Union, U.S., and Canada. Despite these challenges, September remains a peak sales period in China, supported by government subsidies for trade-ins of new energy vehicles, though some local governments have recently suspended such payments.
China’s exports of electric vehicles doubled in September as competition at home intensifies
