China is on its way to Becoming a Leading Car Exporter


EVs are becoming popular in the entire world, mainly due to the emission of no to less pollution and no use of non-renewable energy resources. The China is world’s second-largest economy which is growing rapidly. A halt in Chinese economic development was seen due to the restrictions of COVID-19. However, their economy is again on its way to stability and growth. This development also includes a big growth in the automobile industry. In the past, China was a nation where foreign automaker brands enjoyed a large share of the auto industry. But, with the increasing popularity of electric vehicles, this is about to change.

Latest Developments

According to experts, China is on its way to becoming the biggest vehicle exporter in the world. Currently, the first place belongs to Japan which managed to export about 3.2 million vehicles in the first 11 months of 2022. These numbers are almost the same as the past year. According to experts, Japan is about to face a loss in export numbers of these vehicles, each coming year. As per China is concerned, it is expected to enjoy a significant increase in exports from the automobile industry.

Increasing Demand for EVs in China

China is a country where foreign automakers are still enjoying the advantage as they are holding about 50.8 percent of total sales of conventional vehicles. However, The Chinese EVs are far from par as they have successfully gained 84.7 percent of the share in the same amount of time.

Increase in Car Exports

As the demand for EVs is rising rapidly, millions of Chinese drivers are shifting towards electric vehicles, leaving their petrol ones. These Second-hand vehicles are planned to be exported to other developing nations. The Chinese government is also taking initiatives to ease the selling and exporting of these vehicles in different regions. According to researchers, China is estimated to be exporting 5.5 million units by 2030, of these 5.5 million vehicles exported, 2.5 million would be Electric.

Reasons Behind this Success

China, thanks to its economic development and planning, has a very strong supply chain that is helping carmakers to keep up the supply-in-demand. Moreover, the Chinese are also developing powerful and reliable EV batteries which makes it easier to lower the overall cost of electric vehicles. The Chinese are also planning for a long-term expansion of EV markets in other parts of the world. The people of China aim to spread their markets in Europe and North America as well, by installing some of the most sophisticated technologies and features in their EVs.