China’s export of Electric cars probably this year, according to one Chinese Association does not grow any further. It is expected that Chinese car exports could increase by 10 percent overall, said the Secretary General of the CPCA industry association, Cui Dongshu. However, he does not expect any growth for electric car exports.
According to the CPCA’s latest report, exports of electric cars and hybrid cars increased by 24.3 percent in 2024 compared to the previous year. In total, China’s manufacturers exported 1.29 million vehicles of these drive classes.
A key problem for exports is the pressure from tariffs in Europe, said Cui. The EU – for China under the strained trade relationship with the USA an important trading partner – voted last year for additional surcharges on electric cars manufactured in China. Chinese brands were particularly affected.
Another problem, according to Cui, is that in the car market Russia no growth is expected. Russia has become increasingly important as a sales outlet for Chinese manufacturers since the West attacked the country because of its war of aggression against them Ukraine had imposed far-reaching sanctions.
A price war in the electric car segment continues to rage in China, which is likely to continue in 2025, as Cui said. The reason for this is also that the number of vehicles has increased rapidly. As a result, manufacturers’ profit margins remained low. Many brands in China are not yet making any money from their electric cars. The industry expects further consolidation.