China’s EV To Europe Market, Aims to Export Vehicles Twice as Many

Having Europe as the largest market had almost half of shipments including 3 quarters of exported EVs where rest of it covered by Asia market region. 

According to managing director at Shanghai-based consultancy AlixPartners Stephen Dyer, China's excessing EV production capacity and low domestic sales will continue to be a major exporter in the medium term. 

Photo: REUTERS

China achieved about 60 per cent of global exports of EVs in 2021 and the trend continues in 2022, although Tesla's new factory in Europe might be running slow to export from China. 

On top of that, Tesla transported more than 22,000 vehicles to overseas last month and that happens only after exporting only 60 units in March and none in April as Shanghai was in lockdown situation at that time. 

Meanwhile, car manufacturers in China shipped (RM 5.29 billion) US$1.2 billion worth of electric passenger vehicles, an increase of 122 per cent from a year earlier that almost triple the level in April when car factories in Changchun and Shanghai that ran by Tesla were put in halt for its operation.  

As passenger cars worth US$2.8 billion were exported, the number recorded as the fourth-highest monthly total since the past few years.

In the first 5 months of 2022, car companies in China have improved their sales oversea with exports as domestic sales falling for 11 of the past 12 months.  

(Article sources: BLOOMBERG)