Mei Ri Jing Ji Xin Wen·2025-07-15 10:51Core Insights - The explosive growth of plug-in hybrid vehicles is reshaping the landscape of China's automotive exports, with a significant increase in the export of new energy vehicles (NEVs) [1][2] - In the first half of the year, China's total vehicle exports reached 3.083 million units, a year-on-year increase of 10.4%, while NEV exports surged to 1.06 million units, marking a 75.2% increase [1][2] - Plug-in hybrid vehicles (PHEVs) saw an impressive export growth of 210%, significantly outpacing the growth of pure electric vehicles [1][2] Industry Performance - NEVs accounted for over one-third of total vehicle exports, with passenger NEVs exporting 1.011 million units (up 71.3%) and commercial NEVs exporting 49,000 units (up 2.3 times) [2] - Traditional fuel vehicles experienced a decline, with exports totaling 2.023 million units, down 7.5% year-on-year [2] Company Dynamics - Chery remains the top exporter with 550,300 units exported, representing 17.8% of total exports, while BYD follows closely with 472,000 units, reflecting a year-on-year growth of 130% [8][10] - BYD has surpassed Tesla in several European markets and plans to increase its overseas market investments significantly [10][11] - Other companies like Geely and Great Wall are also expanding their international presence, with Geely's acquisition of Proton in Malaysia leading to a market share increase from 10% to 18% [7][11] Technological Advancements - China's dominance in plug-in hybrid technology is evident, with 68% of global patents in this area, covering critical fields such as battery management and motor control [6] - Geely's latest hybrid system, enhanced by AI technology, demonstrates significant improvements in fuel efficiency, achieving a consumption rate of 2.49L per 100 km, which is over 30% lower than traditional systems [6] Market Opportunities - The global automotive market is undergoing a shift towards electrification, with European regulations pushing for a transition away from fuel vehicles, while Southeast Asia and the Middle East present significant opportunities for Chinese PHEVs due to their cost advantages and technological leadership [7][11] - Countries like Thailand and Saudi Arabia are implementing policies to support electric vehicle adoption, creating a favorable environment for Chinese manufacturers [7]