South Korean Media: China's Electric Vehicle Exports Surge Sharply in April!
On June 2, South Korean media outlet *Herald Economic* published an article stating that data released by BYD, China's largest automaker, showed the company's vehicle exports reached 134,542 units in April, a year-on-year increase of 71%. Chery Automobile's export volume reached 177,573 units, up 102.4% year-on-year; Geely Automobile's exports surged by 245%, reaching 83,186 units.
The share of auto exports in overall sales has also rapidly expanded, with export shares for BYD, Chery Automobile, and Geely reaching 41.9%, 70.6%, and 35.4%, respectively.
Data from BMI, an electric vehicle supply chain analysis firm, shows that electric vehicle sales in Europe increased by 33% in March, surpassing the average growth rate of 19% seen in January and February this year; during the same period, Chinese-made electric vehicle sales soared by 78%.
The trend of expansion in electric vehicles is expected to continue in the long term. According to the International Energy Agency, global electric vehicle sales grew by over 20% last year, reaching 21 million units, with a market penetration rate of 25%.
Xu Tianchen, a researcher at The Economist Intelligence Unit, said: “The widespread adoption of electric vehicles is an irreversible trend. If penetration reaches 33%, there could be an additional demand of around 10 million units, and Chinese brands with competitive pricing and technological capabilities will capture a significant share.”
Chinese automakers plan to boost overall performance by continuously expanding overseas sales. This year, BYD (targeting 1.5 million units), Chery Automobile (1.6 million units), and Geely Automobile (750,000 units) have set export targets that are 43%, 19%, and 79% higher than last year's, respectively.
Original source: toutiao.com/article/1866886740165636/
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