Sharjah 24 – WAM: In 2023, China saw tremendous growth in its new energy vehicle (NEV) production and sales, solidifying its position as a global leader in the electric mobility space.
According to a report by People's Daily, the production and sales of New Energy Vehicles (NEVs) in China surpassed 9.58 million and 9.49 million units respectively, showcasing a significant increase of 35.8% and 37.9% respectively compared to the figures from 2022.
Moreover, the export of NEVs witnessed a substantial surge of 77.6%, reaching over 1.2 million units. These notable accomplishments vividly underscore the robustness and prowess of China's manufacturing industry.
Chinese automakers continued to innovate and introduce new technologies in 2023. Changan tested an upcoming model capable of adding 200km of range from a 10-minute, 800V high-voltage ultra-fast charge enabled by silicon carbide technology. In recent years, Chinese NEVs have achieved advances in charging, drive systems, connectivity and assisted driving features.
To meet booming international demand, major Chinese automakers moved decisively to establish overseas production capacity in 2023. In December, NEV leader BYD shared plans for a new Hungarian plant. Earlier, BYD announced a $633 million, three-factory complex launching production in Brazil this year.
Other carmakers like Changan, SAIC and NETA revealed billion-dollar plans for factories in Thailand. SAIC sold over 1.2 million overseas vehicles in 2023, up 18.8%, retaining its number one spot for eight straight years. SAIC's MG brand now reaches 28 European countries, with over 100,000 sales there last year.
Beyond manufacturing expansion, Chinese EV startups also attracted major international investments reflecting confidence in their technologies. Volkswagen took a $700 million, 5% stake in electric vehicle upstart Xpeng, as the giants pursue closer collaboration.
Audi signed an MoU with SAIC to leverage Chinese expertise in jointly developing new EVs. In October, Stellantis committed €1.5 billion to become a strategic shareholder of Leapmotor, eyeing 2024 sales of Leapmotor’s distinct high-tech budget EVs in Europe.
For an optimal experience, please
