China's new energy vehicles are internationally competitive on oversea market (1)

At Ningbo Zhoushan Port, thousands of new energy vehicles are entering the giant ship, ready to leave for Europe; at Shanghai Nangang Wharf, nearly 10,000 new energy vehicles are sailing from here to the Persian Gulf in a week; in Xi'an, Wuhan, Chongqing and other places, China-Europe Railway Express with the new energy vehicle continues to deliver, fully loaded with domestically produced new energy vehicles, and goes directly to Kazakhstan, Russia, Germany... At the beginning of 2023, China's new energy vehicles will maintain their strong momentum, and press the "fast forward”abroad. China's new energy vehicles are internationally competitive, and "Made in China" is increasingly recognized by the world.

• ONE

The "Statistical Bulletin of the People's Republic of China on National Economic and Social Development in 2022" recently released by the National Bureau of Statistics of China shows that in 2022, China's new energy vehicle production will be 7 million, with an increase of 90.5% over the previous year.

The website of the Australian Broadcasting Corporation reported that, in terms of output, China is currently the world's largest producer of new energy vehicles. There are hundreds of new energy vehicle manufacturers in China, and the production of charging infrastructure will reach 5.2 million units by the end of 2022.

"China's new energy vehicle manufacturers have demonstrated strong capabilities." The Wall Street Journal reported that China's new energy vehicle company Weilai Group will deliver 122,000 vehicles in 2022, increasing about 34% year-on-year; Compared with 2021, the production of Xpeng vehicles will increase by 23%; and the delivery volume of Ideal Auto in 2022 will increase by about 47% year-on-year.

MIT Technology Review published an article stating that China leads the world in new energy vehicle production capacity. The Chinese government began to invest in new energy vehicle-related technologies around 2001. Systematic policies have promoted the development of China's new energy vehicle industry. Today, many new energy vehicle manufacturers in China are constantly optimizing technology to meet market demand.

The Bloomberg website reported that in the fast-growing field of new energy vehicles, battery production has become the key. Two Chinese companies for the battery production , Ningde Times and BYD, accounts for more than half of the world's new energy vehicle battery markets.

According to statistics from the China Association of Automobile Manufacturers, not only the production of new energy vehicles in China has increased on a large scale, but also the sales volume has shown explosive growth.

Japanese Economy reported that in 2022, the sales of new energy vehicles such as pure electric vehicles and hybrid vehicles in China will increase by 93.4% year-on-year, reaching a record high of 6.887 million units. Among them, the sales of pure electric vehicles increased to 5.365 million units, over the total sales of new vehicles in Japan in 2022.

The United States Barron weekly recently cited data from the China Passenger Car Market Information Association and reported that sales of new energy vehicles in China have surged to 439,000 units, accounting for almost 32% of all passenger car sales.

The Nikkei Asia Review recently reported that throughout 2022, China's new energy vehicle production and sales will maintain rapid growth, consolidating China's position in the global new energy vehicle market.

• TWO

"Many Chinese new energy vehicle brands stand out in the international market." Spain's Publica daily website said that BYD, Xpeng and other brands have recently officially landed in the European market, leaving a good impression on the locals.

According to the The Times, the sales of BYD and other Chinese new energy vehicle brands have entered the top 50 in the European market.

As U.S. Automobile Evolution website reported, BYD's new energy model, Atto 3, has recently shown excellent cruising range in the European New Car Safety Evaluation Association test. This model will be the main driver in BYD's expansion of the global auto market. The first batch is planned to be exported to Australia, India and Thailand, and it will also be sold to Europe in the future. The excellent performance of this model in the safety test indicates that it will be a strong competitor in the field of new energy vehicles.

In 2022, Chinese new energy vehicle companies have already achieved success in overseas expansion. At present, Chinese new energy vehicles are very popular in countries such as Singapore.

The great success of export stems from the strong competitive advantage. Reuters quoted Kohler, CEO of the well-known auto parts supplier Freya Group,   mentioned that the cost of producing new energy vehicles for Chinese automakers is about 10,000 euros lower than that of European automakers, and they can use this overwhelming cost advantages to produce better new energy vehicles.

• THREE

According to the data released by the China Passenger Car Market Information Association a few days ago, the overall growth of automobile exports this year maintained the growth momentum of last year. In February, 79,000 new energy vehicles were exported, accounting for 31% of the total export volume of passenger vehicles. Among the 79,000 vehicles, pure electric vehicles accounted for 96%.

The Wall Street Journal quoted analysts at Citigroup, saying that China's electric vehicle exports are expected to continue their strong momentum in 2023, and are expected to grow by another 33%.

As Credit rating agency Fitch International mentioned, Chinese new energy vehicle brands could double down on the European market in 2023 and capture 15 percent of the continent's battery electric market by 2025. This figure is about 5% in 2022. Some Chinese brands are also expected to sell premium models in Europe.

The website of the Australian Broadcasting Corporation reported that more than 10 new energy vehicles will enter Australia in 2023, including Chinese-made BYD and SAIC MG. Some Chinese electric car models could benefit Australian consumers and they also show great interest in buying Chinese new energy vehicles.

Ningde Times in recent proposed to cut the cost of Chinese vehicles manufacturing and take full advantages of it to expand their markets.The company is currently building new battery plants in Germany and Hungary.