China has declared itself the world’s largest car exporter, surpassing Japan in the first quarter of this year. Official figures released recently reveal that China exported 1.07 million vehicles during this period, marking a significant 58% increase compared to the first quarter of 2022.
Meanwhile, Japan’s vehicle exports amounted to 954,185, representing a modest 6% increase from the previous year. China’s export success can be attributed to the growing demand for electric cars and its sales
to Russia. By embracing the shift away from fossil fuels, China’s motor industry has
experienced a notable boost. The exports of new energy vehicles (NEVs), including electric
cars, witnessed an impressive rise of over 90% compared to the previous yearNotably, several prominent Chinese automakers have played a pivotal role in China’s export achievements.
Tesla, through its China arm and its manufacturing plant in Shanghai, has
emerged as one of the leading exporters of NEVs. Backed by veteran US investor Warren
Buffett, BYD has also contributed to China’s export market. Tesla’s ‘Gigafactory’ in Shanghai
has the capacity to produce 1.25 million vehicles annually, with plans for further expansion.
In fact, Tesla recently began manufacturing Model Y sport utility vehicles for export to
Canada.
Furthermore, China’s exports to Russia have surged due to trade sanctions imposed on
Moscow by Western nations amidst the Ukraine war. Chinese automakers such as Geely,
Chery, and Great Wall have experienced a significant increase in their market share in Russia,
benefiting from the departure of rivals such as Volkswagen and Toyota following the invasion
of Ukraine.
China’s remarkable rise as the world’s top car exporter reflects its successful embrace of
electric vehicles and its ability to tap into global markets despite geopolitical challenges
