The BYD carmaker conquered the domestic market and became the best-selling car brand in China. That is why they are now trying to rapidly expand abroad. It also overtook Tesla in the fourth quarter to become the world’s largest electric car manufacturer.
However, the growing presence of Chinese automakers has also prompted retaliation from the European Union. In October, she launched an investigation into subsidies for Chinese manufacturers, which she says are disrupting the electric car market.
CIMC said that BYD Explorer No. 1 is the first cargo ship built by a Chinese shipping company to export Chinese cars. It is equipped with two tanks for liquefied natural gas, which will be used as the main fuel to reduce emissions.
China apparently dethroned Japan as the world’s largest car exporter last year. Total car exports from China rose 58 percent to 4.9 million last year, according to data from the China Association of Automobile Manufacturers (CAAM). Deliveries to the Russian market and interest in electric cars contributed significantly to the growth. Although Japan has not yet released the figures, according to the CNN news channel, the country is expected to have exported 4.3 million cars last year.
China’s auto exports surged in 2021 thanks to growing deliveries of electric cars. This year, Tesla designated its Shanghai plant as a major export center and increased production there. Before that, the annual export of Chinese cars abroad hovered around one million for almost a decade, but it will rise to 2.2 million cars in 2021. China thus surpassed South Korea to become the world’s third largest exporter. A year later, it overtook Germany and moved to second place.