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China’s EV Exports Soar by 87%
Yahoo Finance· 2025-12-29 11:30
Group 1 - China's exports of electric vehicles (EVs) surged by 87% in November year-over-year, with Asia and Europe being the primary markets [1] - Asia remained the top export market for China-made EVs, with a 71% increase in sales to 110,061 units in November compared to the same month in 2024 [1] - Sales in Europe increased by 63% to nearly 43,000 vehicles in November [1] Group 2 - Latin America and the Caribbean experienced a remarkable 283% year-over-year increase in sales of China-made EVs, totaling 35,182 cars in November [2] - The domestic Chinese market has seen EV sales consistently exceeding 50% of total new car sales each month, outpacing conventional fossil-fuel powered vehicles [2] Group 3 - China is leading the global race for EV dominance, with reduced competitive pressure from Europe and U.S. automakers, while aggressively expanding into overseas markets [3] - The export market for China has faced challenges due to high tariffs in the U.S. (100%) and the European Union (17% to 38%) [3] Group 4 - China is gaining traction in key emerging markets, with significant sales growth in Indonesia, Singapore, Vietnam, and Latin American countries like Uruguay, Mexico, and Brazil [4] Group 5 - Since mid-2023, growth in Chinese EV exports has primarily come from non-OECD markets, with Brazil, Mexico, UAE, and Indonesia being among the top destinations due to supportive government policies for EV adoption [5] - Emerging markets are expected to play a crucial role in shaping the future of the global car market [5]