INDUSTRY BRIEF: China’s EV exports decline, as hybrids grow rapidly
China’s exports of pure electric vehicles (EVs) fell 10.8% year-on-year to 894,000 units in the first 11 months of this year, the China Association of Automobile Manufacturers (CAAM) announced on Wednesday, reflecting impact of EU tariff hikes on Chinese car exports this year.
In October 2023, the European Commission launched an anti-subsidy investigation into Chinese EVs and imposed formal anti-subsidy tariffs for five years starting Oct. 30 this year. Affected by those policies, China’s EV exports to the EU have started to slow after strong growth in 2023. In the first eight months of this year, China exported 297,500 pure EVs to the EU, down 7.6% year-on-year.
By comparison, exports of plug-in hybrid electric vehicles (PHEVs) jumped 180% 246,000 units in the first 11 months of this year, according to CAAM. The organization pointed out that insufficient overseas charging infrastructure is also hindering more widespread adoption of pure EVs. Thus, PHEVs, with their lower costs and longer driving ranges, hold significant growth potential in overseas markets.
By Lee Shih Ta
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