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Chinese Carmakers Go Global

Capital Week January 4, 2022

By NewsChina Updated Mar.1

Statistics from the China Association of Automobile Manufacturers shows that China’s auto enterprises exported 1.79 million vehicles during the first 11 months of 2021, more than double that of the same period of the previous year. Driven by robust demand for electric vehicles, China’s auto exports surged 59.1 percent year-on-year to 200,000 units in November 2021 alone. Exports of new energy vehicles skyrocketed 189.9 percent from a year ago to 37,000 units in November. The popularity of Chinese electric vehicles in overseas markets is because of technological advances, cutting-edge design and achievements in reducing greenhouse emissions. Experts argue that only when Chinese auto companies gain a firm foothold in developed markets can they truly participate in international competition.