Key facts
- China's green energy exports increased by 51% year-on-year in July.
- Shipments of new-energy vehicles (NEVs) nearly doubled.
- Total vehicle exports from China reached a record high in July.
- Electric passenger vehicle exports grew 69.4% to 325,000 units in July.
- China exported 1.043 million vehicles in July, an 81.3% year-on-year increase.
- NEV exports surged 145.5% year-on-year to 553,000 units in July.
China's exports of green-energy products experienced a significant surge in July, increasing by 51% compared to the previous year. This growth was primarily driven by a near doubling of overseas shipments for new-energy vehicles (NEVs), contributing to a record high in total vehicle exports.
Data indicates that China exported 325,000 electric passenger vehicles in July, marking a 69.4% year-on-year rise, with the export value climbing 48.9% to $5.87 billion. Overall, China's auto exports surpassed 1 million units for the second consecutive month in July, reaching 1.043 million units, an 81.3% year-on-year increase. NEV exports were particularly strong, with 553,000 units shipped, a 145.5% year-on-year surge, and NEVs now constitute over half of China's total auto exports for two months running.
The robust performance is attributed to China's comprehensive automotive industrial chain, competitive costs, and resilient supply chain, encompassing everything from lithium processing and battery manufacturing to vehicle assembly. This ecosystem allows for rapid technological upgrades and cost control, enhancing the competitiveness of Chinese EV makers in global markets. Companies like Chery and Tesla have shown significant export growth, with Chery exporting 1.141 million vehicles in the first seven months and Tesla's exports increasing by 130% year-on-year.