China's January NEV exports totaled 150,000 units, marking the second consecutive month of record highs, boosted by higher BEV exports.
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Category: China NEV export
Greenland aims to achieve annual exports of 100,000 NEVs over the next three years.
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China's export growth for BEVs is expected to slow to 9 percent this year, with its contribution to passenger car exports falling to 19.0 percent in 2024 from 22.5 percent in 2023, Canalys said.
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Xpeng had overseas sales of 1,783 units, Nio 388 units and Leapmotor 271 units in the first quarter.
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China's new energy industry provides high-quality production capacity that enriches global supply and eases global inflationary pressures, and the world needs more of such high-quality production capacity, the People's Daily […]
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Newrizon, founded by a former Nio senior vice president, announced in February 2023 that it had secured more than RMB 100 million in Series B+ funding from Nio Capital.
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MG, Tesla, and BYD were the brands that exported the most NEVs from China in the first half of the year, contributing 25.3 percent, 22 percent, and 15.4 percent, respectively.
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NEVs exported from China amounted to 800,000 units in the first half of the year, up 105 percent year-on-year.
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Western Europe is a traditional stronghold for international carmakers, and it's difficult for Chinese brands to stand out, TrendForce said.
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Chinese brands are expected to increase their share of the Western European new energy vehicle (NEV) market to 9 percent in 2023, up from 6 percent in 2022, market research firm TrendForce said in a report today.
SAIC's MG is the dominant Chinese brand in the Western European NEV market, according to the report.
Chinese exports of NEVs are primarily aimed at Western European countries with clear timetables for phasing out fuel vehicles, as well as Southeast Asia, especially Thailand, where penetration of such vehicles is low, TrendForce noted.
Western Europe is the home base of traditional international car manufacturers, and it is difficult for Chinese brands to stand out, the report said.
However, it is worth noting that Chinese NEVs emphasize high cost-efficiency and intelligence, and affordable electric vehicles can meet demand against the backdrop of high inflation facing Western Europe, TrendForce said.
In Southeast Asia, where Chinese brands entered early, the number of NEVs here is small, in the tens of thousands range, but the share of Chinese brands is high, the report said.
In 2023, the market share of Chinese brands in the Southeast Asian NEV market is expected to rise to 63 percent from 52 percent in 2022, TrendForce said.
This is a major concern for Japanese brands, which have long had a high market share in the Southeast Asian auto market, the report said.
Entering new markets requires a significant investment of resources, including the establishment of showrooms, after-sales maintenance service systems, charging infrastructure and compliance with local regulations.
Therefore, how to maintain price advantages while adding additional costs will be key to the success of Chinese auto brands overseas, according to TrendForce.
China's NEV industry developed early and has advantages in supply chain, productivity, cost-effective lithium iron phosphate (LFP) battery technology and production capacity, the high report also noted.
Chinese battery makers have layout in global upstream lithium resources, so their cost control and component supply stability are higher, becoming an advantage for Chinese car manufacturers when expanding overseas markets, the report said.
NEVs accounted for more than 25 percent of China's auto exports in the first quarter of 2023, and NEVs will be the focus of future expansion into overseas markets, TrendForce said.
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Neta is actively preparing for entry into the European market and will release a heavyweight global model, it said.
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Neta Auto, the electric vehicle (EV) brand of Hozon Auto, is sending a new shipment of thousands of EVs to overseas markets for the second time in three months.
A total of 4,000 Neta EVs are being sent abroad, the latest new batch after 3,600 vehicles were sent to overseas markets in March, the company said yesterday in a WeChat post.
Neta did not mention which countries the vehicles will be sent to, although it's possible they will still be in Southeast Asia. A total of 3,600 of the compact SUV Neta V vehicles were sent to Thailand on March 21.
Thailand is Neta's home base for expanding into the ASEAN market, and the Neta V is trusted and loved by local consumers, Neta said yesterday.
From January to April, Neta V ranked second in Thailand with a 16.5 percent share of all-electric vehicle license plate registrations, Neta said, citing data from Thai website AutoLife.
Neta is now actively preparing for its entry into the European market and will participate in the Munich auto show in Germany later this year, and the Neta GT sports car will be launched in overseas markets in the near future, it said.
Neta will also release a heavyweight global model that will accelerate bringing high-quality electric smart cars within reach, it said, without giving further details.
Neta has been seen as a budget EV maker since its inception in October 2014, as its vehicles are priced primarily to target the lower end of the market. The company is trying to create a higher-end image with its flagship sedan, the Neta S, and its sports car, the Neta GT.
As the EV market in China becomes more competitive, local car companies including Neta and NIO (NYSE: NIO) are starting to make more efforts to expand overseas.
Unlike NIO, which is targeting the more developed European market, Neta is focusing its initial efforts on overseas expansion in Southeast Asia.
On August 24, 2022, the right-hand drive version of the Neta V was launched in Thailand as its first model to be offered there.
On March 10, 2023 Neta laid the foundation stone for its factory in Bangkok, Thailand, which will be its main manufacturing base for building right-hand drive electric vehicles for export to ASEAN.
On May 11, Neta announced its entry into Malaysia, officially launching the right-hand drive version of the Neta V for local consumers at the largest auto show in the region.
Neta delivered 13,029 units in May, up 18.35 percent from 13,029 units in the same month last year and up 17.59 percent from 11,080 units in April, according to data released by the company on June 1.
From January to May this year, Neta delivered 50,285 vehicles, up 0.62 percent from 49,974 in the same period last year, data monitored by CnEVPost showed.
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