Tuesday, May 28, 2024

China Becomes World’s Biggest Electric Vehicle Exporter in 2021.

Last year, China led the globe in electric vehicle sales. In 2021, the region shipped almost 500,000 electric vehicles, which was more than any other country on the planet. However, there were a number of circumstances that contributed to such high exports.

The data was provided by China’s General Administration of Customs (Via AsiaNikkei). According to this estimate, the Chinese market sold 499,573 electric vehicles in 2021. This represented a stunning 2.6-fold rise over the previous year. Germany, on the other hand, saw EV shipments more than treble in 2021, hitting 230,000 units. The US market, on the other hand, saw a significant 30 percent decline, falling to just 110,000 units.

China currently accounts for 60% of worldwide electric vehicle production and is establishing itself as the “world’s factory” for EVs, comparable to its standing in digital product manufacture. Furthermore, shipments to the EU increased as a result of a regulation that prohibits the sale of new hybrid and gasoline-powered vehicles beginning in 2035. Thus, EV exports from China to Europe increased fivefold, reaching 230,000 units, as the region absorbed roughly half of China’s total EV exports.

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