China's NEV exports up 37.6 pct on-yr in July

Workers work at the final assembly workshop of an automobile company in the new energy vehicle town of Jinhua City, east China's Zhejiang Province, Dec. 17, 2021. (Photo by Hu Xiaofei/Xinhua)

China's new energy vehicle (NEV) exports registered a year-on-year growth of 37.6 percent to 54,000 units in July, according to data from China Association of Automobile Manufacturers (CAAM).

The country has seen impressive NEV exports in recent months. This could be attributed to strong demand for NEVs from overseas consumers especially those in Europe and the U.S, said Cui Dongshu, secretary general of China Passenger Car Association (CPCA).

Cui moved on to mentioned that the transformation of auto industry from traditional fossil fuel vehicles-dominated to NEVs, coupled with rising crude oil prices which pushes up the cost of using gasoline- and diesel-powered cars, are the main reasons behind overseas consumers' greater desire for NEVs.

In the supply side, auto production capacities in Europe, the U.S. and Japan have shrunk due to insufficient supply of chips and batteries globally. In contrast, Chinese auto makers manage to ensure chips supply, thus winning more orders, according to Cui.

NEVs have become the main growth engine of China's auto exports, which are expected to maintain fast growth in the future as global demand for NEVs is likely to increase further, said Cui.