China’s EV Exports Surge as Europe Starts Subsidy Probe
Overall retail sales of new-energy vehicles in China rose 22.1% from a year earlier to 746,000 units in September, the PCA data showed.
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China’s EV Exports Surge as Europe Starts Subsidy Probe, via Bloomberg#ev #china #europehttps://t.co/I4hthjcRvR
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Bloomberg News on China’s EV
China’s new-energy passenger car exports more than doubled last month, as the nation’s growing clout in the global auto market comes under pressure from Europe and the US.
China-based automakers shipped 91,000 clean vehicles abroad in September, including pure-electric and plug-in hybrids, an increase of 107% from a year earlier, data from the Passenger Car Association showed Wednesday. US-based Tesla Inc. ranked top with 30,566 units sent to overseas markets from its Shanghai factory, while delivering 43,507 cars to local customers.
Much of the remainder were driven by local automakers such as BYD Co. and Shanghai Automotive Industry Corp., the data showed. Shipments of cleaner cars accounted for 25.4% of total passenger car exports.
The European Commission last month announced an investigation into subsidies doled out by China’s government to its electric vehicle industry, saying the support was distorting the market. The move may lead to tariffs close to the 27.5% level already imposed by the US on Chinese EVs, Bloomberg reported last month.
