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China’s NEV exports up 27.1% in January 2024: association

ISLAMABAD (PEN) : Exports of Chinese new energy vehicles (NEVs) maintained a robust trend last month, with 95,000 new energy passenger cars exported in January 2024, an increase of 27.1 percent year on year, according to data released Thursday by the China Passenger Car Association.

Exported NEVs accounted for 26.8 percent of the nation’s total exported passenger vehicles during the same month, the data showed.

“The scale advantage of China’s new energy industry combined with growing market demand, means more Chinese-made new energy product brands are venturing abroad, with their recognition in international markets continuing to grow,” the association said in a statement.

At the same time, increased recognition has been accompanied by Chinese carmakers continuously improving service networks overseas, all of which support Chinese NEV exports, it said.

Based on retail sales data, the price-friendly smaller-sized A0-class pure electric vehicles accounted for nearly 60 percent of Chinese-exported NEV sales in overseas markets last month, the association said, adding that the Shanghai-based SAIC reported better performance in Europe while BYD emerged as a competitive player in the southeast Asian market in January.