China daily: China will become the largest auto exporter in 202329.11.2023 | 16:07 |
China is expected to become the world's largest auto exporter in 2023, China daily reports.
According to the latest report from a German research institute, Chinese manufacturers sold 3.4 million cars abroad from January to September. That's more than Japan and Germany, which exported 3.2 million and 2.4 million vehicles respectively over the same period.
China also surpassed Germany in car exports last year.
According to Wang Xia, a spokesman for the China Council for the Promotion of International Trade, the popularity of Chinese cars abroad is due to their electrification features. China's superiority in lithium-ion battery production is helping Chinese businesses cut costs.
Car export destinations from China have also gradually expanded to Europe, North America, etc. Data shows that Chinese brands accounted for 8% of the European Union's electric vehicle market in 2022, and this figure is expected to increase to 15% by 2025.