China's automobile exports top the world

China's automobile exports top the world

Statistics from the China Association of Automobile Manufacturers (CAAM) show that following the breakthrough of 2 million units in 2021 and more than 3 million units in 2022, China's total automobile exports in 2023 will reach a new level of 4.91 million units, a year-on-year increase of 57.9%. It is reported that the Japan Automobile Manufacturers Association released data on January 31, Japan's auto exports in 2023 was 4.42 million units. So far, China's auto exports, the first over Japan, jumped to the world's first.

In 2023, China's total import and export value of 41.76 trillion yuan. Among them, electric passenger cars, lithium-ion batteries and solar batteries, "the new three kinds of" products for the first time exceeded the trillion yuan mark, an increase of 29.9%.

China's automobile export volume jumped to the first place in the world, which is an important milestone for China to move from a big automobile country to a strong automobile country, marking that the globalization of China's automobile industry has taken a key step forward. Looking at the development history of global auto industry powerhouses, all of them start with large-volume export, and gradually build up a global industrial chain layout integrating parts and components and vehicle production, sales, after-sales service and brand operation.
Wang Lingjun, deputy director of the General Administration of Customs, China vigorously promote the green low-carbon transformation and upgrading of the automobile industry, new energy vehicle exports for the industry to add a distinctive color. Currently, every 3 cars exported from China has 1 electric people mover, and the annual export of 1.773 million vehicles, an increase of 67.1%, which contributes to the global green low-carbon transformation.

Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology, said in his speech at the event, "New energy vehicles are the main direction of the transformation and upgrading of the global automobile industry and green development, and also a strategic choice for the high-quality development of China's automobile industry.Over the past 70 years, China's automobile industry has grown from nothing to something, from small to big, from weak to strong, and the launch of the 20 millionth new energy vehicle is a historically significant and important moment."

On January 1, 2024, BYD announced its annual sales for December 2023 and 2023, with December sales of 341,043 units, up 45% year-on-year, and annual sales of 302,417 units, up 61.9% year-on-year.
With this eye-catching data, BYD  car not only accomplished its goal of annual sales of 3 million units set at the beginning of the year, won the annual sales title of Chinese automobiles in one fell swoop, but also won the global sales title of new energy vehicles, and the 3 million units also set the highest record of annual sales of Chinese automobiles.

Following Volkswagen Group's hand in hand with Xiaopeng Automobile, multinational automaker Stellantis Group has come together with Zero Run Automobile, a new Chinese car-making force.

On October 26, 2023, Stellantis Group and Zero Run Automobile entered into a strategic partnership with plans to invest about 1.5 billion euros to acquire a 20% stake in Zero Run Automobile. The two companies will set up a joint venture, Zero Run International (51% owned by Stellantis Group and 49% owned by Zero Run Automobile), to export, sell and manufacture Zero Run Automobile's electric vehicles outside of China.

On November 20, Zero Run Automobile announced that 194 million new H-share subscription shares had been issued to Stellantis, and on November 23, Zero Run Automobile announced that it had completed the delivery of its cooperation with Stellantis Group, and that Zero Run Automobile had received a remittance of HK$8.5 billion (approximately RMB 7.78 billion) from Stellantis Group.