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China’s electric vehicle (EV) export machine surged into overdrive in March, with overseas shipments more than doubling to a record 349,000 units.
China's EV and hybrid exports surged 140% year-on-year in March to a record 349,000 units.
KEY POINTS
- BYD accounted for about one-third of March's exports and is targeting Europe's luxury EV market.
- China's domestic EV and hybrid sales fell 14% in March, marking a third consecutive monthly decline.
- Mercedes-Benz China sales dropped 27% in Q1, highlighting Western automakers' struggles against local EV competition.
- The current energy crisis is accelerating global EV adoption, compressing a multi-year transition into a shorter timeframe.
COMPANIES
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