알파경제 - China′s electric vehicle exports have grown rapidly in recent years

Hyundai Electric Vehicle Production Line (Photo=Hyundai Motor)

[Alpha Biz=(Chicago) Reporter Paul Lee] China's electric passenger car exports have been growing rapidly in recent years. It is predicted that China will speed up exports of electric vehicles with price competitiveness.

According to the China Passenger Car Market Research Institute (CPCA) and the electric vehicle industry on the 12th, the number of new energy vehicles exported to China last year, including passenger electric vehicles (EV) and plug-in hybrid vehicles (PHEV), reached 1,036,000 units.

This is the first time China has exported more than a million electric passenger cars annually.

This is an increase of 68.5% compared to China's new energy car exports of 614,900 units in 2022.

This year, the overseas expansion of Chinese electric vehicles is not unusual.

The cumulative number of new energy vehicles exported from January to February this year was 174,000 units, up 13.7% from the same period in 2023 (153,000 units) and 78.8% from the same period in 2022 (97,300 units).

The share of new energy cars in total passenger car exports also rose 1.6 percentage points from 28.1 percent in 2022 to 29.7 percent last year.

The industry believes that Chinese electric vehicle companies have begun to enter overseas markets in 2022.

China is also known to be active in entering the Middle East market recently.

As BYD is known to be hiring personnel in charge of import and export of imported cars and supply chain management (SCM) in Korea, some observers say it may be trying to further expand its organization.

알파경제 Paul Lee Reporter(hoondork1977@alphabiz.co.kr)