2 1 Shi Ji Jing Ji Bao Dao·2025-07-21 14:27Core Insights - The export of new energy vehicles (NEVs) from China has significantly increased, with a 75.2% year-on-year growth in the first half of the year, while traditional fuel vehicle exports declined by 7.5% [1] - BYD has emerged as a leading player in the NEV export market, achieving a 130% increase in exports to 472,000 units, closing the gap with Chery, the current leader [1][2] - The strategy of Chinese automakers is shifting from simple export to localization, with companies like BYD establishing production bases in various countries to enhance their global supply chain [2][3] Market Performance - In the first half of the year, NEV exports reached 1.06 million units, with passenger car exports accounting for 1.01 million units, reflecting strong demand in international markets [1] - BYD's sales in Brazil have been particularly strong, with a market share of 92.16% for pure electric models and 35.8% for plug-in hybrids [1] Localization Strategy - Chinese automakers are increasingly adopting a localization strategy, with BYD establishing factories in Brazil, Thailand, Uzbekistan, and Hungary to support local production and reduce import reliance [2][3] - BYD's factory in Brazil has an initial capacity of 150,000 units per year, with plans for further expansion [3] Industry Trends - The automotive industry is witnessing a shift towards technology export, with Chinese companies aiming to become industry enablers rather than just product exporters [3] - The establishment of local factories not only creates jobs but also stimulates the local automotive industry, as seen with BYD's Brazilian operations employing over 1,000 local workers [3][4] Future Outlook - BYD is expected to continue its aggressive expansion into overseas markets, with a focus on high-end products and increased investment in various countries [6] - The second half of the year is anticipated to present further growth opportunities for Chinese NEV exports, as logistical challenges and policy fluctuations are expected to stabilize [6]