growth of almost 140% • Межа

China’s exports of new energy vehicles (NEVs), which include electric vehicles and hybrids, reached 349,000 units in March, up 139.9% year-on-year. This is according to CPCA data cited by industry analysts. The jump in exports was one of the strongest in recent months and reflects the rapidly strengthening global demand for electric vehicles, 36kr writes.

The main growth factor was the situation in the global energy market. Due to rising oil prices and supply disruptions in strategic regions, such as the Strait of Hormuz, fuel prices in many countries have risen significantly. This has encouraged consumers to switch to electric transport more actively. Deloitte estimates that even a $1 per gallon increase in petrol prices could boost sales of electric vehicles by around 6%.

Among Chinese manufacturers, BYD stands out, having sold 120,000 electric vehicles abroad in March. Geely also showed growth, with 81,000 international sales, of which 51,000 were of electric vehicles, representing an increase of 479% in this segment. New brands, such as Leapmotor and GAC Aion, are also showing strong momentum.

Demand for Chinese electric vehicles is also growing in developed markets. In Australia, the share of Chinese brands has reached 25%, and interest in electric vehicles has increased by about 50% following the rise in fuel prices. Similar trends are being recorded in New Zealand.

At the same time, the market remains heterogeneous. High prices, poor charging infrastructure and service issues are holding back the mass adoption of electric vehicles in developing countries.

Nevertheless, China continues its aggressive expansion: BYD has raised its export target for 2026 to 1.5 million cars, and other manufacturers are actively expanding international supplies. Analysts note that the share of NEVs already accounts for about 50% of China’s total automotive exports, which indicates a structural transformation of the industry.

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