Auto & Transportation

In November, China's electric vehicle exports more than doubled, setting a monthly record. According to foreign media analysis, this is mainly driven by European automobile manufacturers' production of electric vehicles in China and export to Europe.

According to Chinese customs data, Chinese automobile manufacturers exported $3.2 billion worth of electric vehicles in November, up 165% year on year, reaching the highest monthly export volume ever. According to customs data, European countries such as Belgium and the United Kingdom are the largest importers, accounting for nearly 70% of imports.

The export of electric passenger vehicles in China has accounted for more than half of the total automobile exports for two consecutive months. According to customs data, China's automobile exports hit a record high in November, with a total amount of 6 billion dollars.

Due to the limited capacity in the domestic market, European automobile manufacturers, including Volkswagen and BMW, are planning to manufacture parts and vehicles in China and export them to the local market.

BMW has exported the pure electric BMW iX3 model produced by Brilliance BMW to the global market as early as 2020. In addition, it is reported this year that BMW plans to stop the production of MINI electric models in the UK Oxford factory and transfer the production line to China.

Volkswagen announced in December that its Spanish brand Cupra would produce its first electric SUV Tavascan in its joint venture factory in Anhui, and would enter the European market in 2024.

According to customs data, Europe is also one of the important export destinations of Tesla's Shanghai factory. Tesla exported 37000 cars from China in November.

At the same time, China's local auto companies are also accelerating their pace of going abroad and taking Europe as the main destination. Among the traditional automobile companies, SAIC Group, which owns the British brand MG (MG), has expanded its distribution network in Europe to sell electric vehicles; BYD's Han, Tang and Yuan PLUS also launched deliveries in Germany, Norway, Belgium, the Netherlands and other places this year; Euler, the pure electric brand of Great Wall, also landed in the European market. Among the new forces of car building, Weilai, Xiaopeng, Aichi and others have also gone to Europe to sell electric vehicles locally.

At present, China has surpassed Germany to become the world's second largest auto exporter, second only to Japan. According to the customs data, from January to November 2022, the export market sales of Chinese cars will be 3 million, with a year-on-year growth of 51%.