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China became the world's largest car exporter for the first time!

May 25, 2023

Latest company news about China became the world's largest car exporter for the first time!

In the first quarter of this year, China became the world's largest car exporter for the first time! This means that China's auto industry is in a stage of rapid take-off, and at the same time, Chinese auto companies are still accelerating their overseas deployment. In recent years, my country's self-owned brand cars have begun to accelerate the deployment of localized production in overseas markets, shifting from trade and export to the overseas model of investing and building factories locally. SAIC, which ranked first in export volume last year, has established three innovation R&D centers in Silicon Valley, Tel Aviv, Israel and London, England, three overseas production and manufacturing bases in Thailand, Indonesia, and India, and a component assembly plant in Pakistan. . Chery Automobile has also established global R&D bases in Europe, North America, the Middle East, Brazil and other places, with a total overseas production capacity of 200,000 vehicles per year. By the end of 2022, Chery has established 10 overseas factories around the world. In February this year, Chery announced an investment of US$400 million (approximately RMB 2.8 billion) to build a plant in Argentina, which is expected to produce 100,000 vehicles per year. In August last year, NIO announced to invest in the construction of its first overseas factory in Hungary.

In order to better go overseas, Great Wall Motors invested 500 million US dollars (about 3.5 billion yuan) and took 5 years to build a factory in Tula, Russia, and then deployed several factories in multiple countries through acquisitions. Recently, Great Wall Motor announced that the first new energy plant in Brazil will officially start operation on May 1, 2024. The factory's future production capacity can be increased to 100,000 vehicles per year. It is Brazil's first new energy vehicle factory specializing in the production of hybrid vehicles and electric vehicles.

Great Wall Motor also stated that the Brazilian plant will not only meet the supply demand for intelligent and electric vehicles in the Brazilian local market, but also serve as the fourth largest production base of Great Wall Motor in the world, radiating the entire Latin American new energy vehicle market. In April this year, Great Wall Motors sold 21,814 vehicles overseas, a year-on-year increase of 182.09%, accounting for 23.43% of sales.

As an early car company that explored overseas markets, Geely has established modern vehicle and powertrain manufacturing plants in China, the United States, the United Kingdom, Sweden, Belgium, and Malaysia, and has more than 4,000 sales outlets of various types.

In May 2022, Geely Automobile will become a shareholder of Renault Korea Motor, with a shareholding ratio of 34.02%. The new products jointly created by Geely and Renault will adopt the CMA modular architecture and be produced using Geely's advanced hybrid technology. They will be sold using Renault's existing Korean sales and after-sales network, and it is planned to launch the above products in overseas markets. The new car is expected to be mass-produced in 2024. This is the first time that Geely has exported the company's core technology to a developed country in the automobile industry. In April of this year, the Jikr brand released its European strategy, which will explore the European market with three business pillars: excellent products, direct sales model, and one-stop service. The first batch of direct sales stores will land in Sweden and the Netherlands within this year and start delivery. At the Shanghai Auto Show, Changan released its overseas strategy "Inclusive of all rivers" plan, which will focus on intelligent low-carbon products overseas, and promote the combination of "global product synchronous development + regional differentiated development", no longer limited to the Middle East, South America, CIS and other global second- and third-tier markets, but plans to spend 2 to 3 years to complete the layout of major European markets.

Changan Automobile will invest 4 billion yuan to deploy a global "right-hand drive production base" in Thailand, which will be put into production in 2024. The first phase of production capacity will be 100,000 vehicles, and the second phase will increase to 200,000 vehicles. In the future, the sales volume of Changan Automobile in the European market will exceed 300,000. At the beginning of this year, JAC's new energy vehicles were exported to Norway, France, and Spain in batches, marking JAC's official entry into the European market. In February this year, Jianghuai invested 1.452 billion yuan to establish a joint venture factory in Idaho, Mexico with local partners in Mexico, which is expected to be used to produce pure electric vehicles. It is expected to start production in the second half of this year, with an annual production capacity of about 40,000 vehicles. It can be seen that at the moment when China has become the world's largest car exporter, all Chinese car companies are accelerating their overseas deployment. On the one hand, it is because the product competitiveness of Chinese automobiles has been greatly improved, and the name of Chinese automobile brands has been established abroad, especially new energy vehicles, which are already ahead of most foreign companies. On the other hand, some Chinese car companies have already enjoyed the dividends of overseas markets, and this has also attracted more car companies to expand their markets overseas.


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