China will surpass Japan by the end of the year according to Moody’s Analytics. China claims to have exported 3.32 Million cars in 2022 and now they are making an average of 1,71,000 cars per month last year.
Chinese carmakers struggled to make inroads in foreign markets, exporting fewer than 375,000 cars in 2015. In contrast, Germany and Japan shipped roughly the same number in just a single month.
China’s exporting history and their growth story
In the first half of 2023, exports to Australia tripled, reaching over 100,000 cars, while sales to Spain surged 17-fold to nearly 70,000 vehicles.
Western Consumer Appetite for Chinese Cars
Considerable state investment in EV technology, estimated at $100 billion between 2009 and 2019, catapulted China to the forefront.
State-sponsored support to the EV Industry
Considerable state investment in EV technology, estimated at $100 billion between 2009 and 2019, catapulted China to the forefront.
Large reserves of Lithium and expertise in Semiconductors