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Electric & new energy vehicles
BusinessChina Business

EV makers put China on course to overtake Japan as the world’s top car exporter

  • The growing manufacturing and technological prowess of China’s domestic EV makers could soon see the nation displace Japan as the world’s top car exporter
  • China exported 3.11 million vehicles in 2022, up 54.4 per cent year on year, according to the China Association of Automobile Manufacturers

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Cars and trucks for export are parked at a port in Yantai in eastern China’s Shandong province. Photo: Chinatopix via AP
Daniel Renin Shanghai
China’s automotive industry has a reason to cheer surging exports, as the growing manufacturing and technological heft of home-grown electric vehicle (EV) makers could soon see the nation unseat Japan as the world’s largest car exporter, analysts said.
“Rising exports are a clear sign that Chinese carmakers’ development and manufacturing capabilities have largely improved following four decades of efforts,” said Chen Jinzhu, CEO of consultancy Shanghai Mingliang Auto Service. “Chinese companies like BYD and Geely will become strong contenders in the global automotive market.”

China is now the world’s second-largest vehicle exporter after overtaking Germany last year. It shipped 3.11 million units overseas in 2022, comprising 2.53 million cars and 580,000 commercial vehicles, an increase of 54.4 per cent from 2021, according to the China Association of Automobile Manufacturers (CAAM).

China is closing in on Japan’s export volume, which recorded flat overseas car sales last year.

The T03 EV is assembled at Chinese EV start-up Leapmotor’s factory in Jinhua, Zhejiang province. China could export 2.5 million EVs in 2030, according to a forecast by Citic Securities. Photo: VCG via Getty Images
The T03 EV is assembled at Chinese EV start-up Leapmotor’s factory in Jinhua, Zhejiang province. China could export 2.5 million EVs in 2030, according to a forecast by Citic Securities. Photo: VCG via Getty Images

Japanese carmakers shipped 3.2 million vehicles abroad in the first 11 months of 2022, almost unchanged from a year earlier, according to MarkLines, a car industry data provider. In 2021, Japan exported 3.82 million cars, and it is expected to post a year-on-year decline once the full-year results are tallied.

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