Industry data revealed that, in the wake of the European Union's anti-subsidy investigation into Chinese electric vehicles, Brazil has surpassed Belgium as the country's top export destination for Chinese new energy vehicles.
According to data from the China Passenger Car Association (CPCA), exports of plug-in hybrid and pure electric vehicles to Brazil increased 13 times year over year to 40,163 units in April, making it the largest export market for the second consecutive month.
Brazil, the 10th-largest export market in January, has seen a sharp rise in exports; this is in anticipation of a further hike in tariffs on the import of electric and hybrid vehicles starting in July, as the South American nation looks to promote domestic car manufacturing.
A number of Chinese manufacturers have already begun to raise their investments in order to support local production in Brazil. There, BYD has begun constructing a manufacturing complex with plans to start local production by year-end or early 2025, while Great Wall Motor said this month that it will start operations at its Brazil unit.
In April, Brazil surpassed Russia as China's top vehicle export destination, becoming the country's second-largest export destination overall.
According to CPCA secretary general Cui Dongshu, China's biggest auto export market is still anticipated to be Russia, which is under Western sanctions.
According to CPCA data, the nations that had the largest declines in imports of electric passenger cars manufactured in China between January and April were Spain, France, the Netherlands, and Norway.
A significant objective of delivering 20 million cars annually by 2030 was omitted by Tesla from its most recent impact report on Thursday.
Although China's automakers have been aggressively pursuing export opportunities in South America, Australia, and ASEAN, the EU's anti-subsidy investigation has caused a disruption in the country's automobile shipments to the bloc, according to Cui.
Chinese car shipments to Russia rose 23% to 268,779 automobiles in the first four months of this year. During the same year, exports to Brazil increased by 536% to 106,448 and 27% to 148,705 to Mexico.
(Source:www.theprint.in)
According to data from the China Passenger Car Association (CPCA), exports of plug-in hybrid and pure electric vehicles to Brazil increased 13 times year over year to 40,163 units in April, making it the largest export market for the second consecutive month.
Brazil, the 10th-largest export market in January, has seen a sharp rise in exports; this is in anticipation of a further hike in tariffs on the import of electric and hybrid vehicles starting in July, as the South American nation looks to promote domestic car manufacturing.
A number of Chinese manufacturers have already begun to raise their investments in order to support local production in Brazil. There, BYD has begun constructing a manufacturing complex with plans to start local production by year-end or early 2025, while Great Wall Motor said this month that it will start operations at its Brazil unit.
In April, Brazil surpassed Russia as China's top vehicle export destination, becoming the country's second-largest export destination overall.
According to CPCA secretary general Cui Dongshu, China's biggest auto export market is still anticipated to be Russia, which is under Western sanctions.
According to CPCA data, the nations that had the largest declines in imports of electric passenger cars manufactured in China between January and April were Spain, France, the Netherlands, and Norway.
A significant objective of delivering 20 million cars annually by 2030 was omitted by Tesla from its most recent impact report on Thursday.
Although China's automakers have been aggressively pursuing export opportunities in South America, Australia, and ASEAN, the EU's anti-subsidy investigation has caused a disruption in the country's automobile shipments to the bloc, according to Cui.
Chinese car shipments to Russia rose 23% to 268,779 automobiles in the first four months of this year. During the same year, exports to Brazil increased by 536% to 106,448 and 27% to 148,705 to Mexico.
(Source:www.theprint.in)
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