As electric vehicle manufacturers in China continue to introduce compelling new and well-priced models, the number of Chinese-made EVs being exported around the world is expected to grow rapidly.
The launch of the BYD Seagull at the Shanghai Auto Show that’s priced from just $11,300 shows how local brands have a “fantastic competitive advantage” over their rivals, chief executive at French auto supplier Faurecia, Patrick Koller, told Reuters.
Koller has spoken with the chief executives and chairman of more than two dozen Chinese car manufacturers and told Reuters that many of them are looking to launch in new markets, including Europe. He believes that “an attractive car for Chinese consumers will be an attractive car for a European consumer.”
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Chinese carmakers exported two million vehicles in 2022, a four-fold increase from 2020 and given the strength of exports through the first quarter of 2023, Chinese car exports could top three million vehicles this year.
The nation’s leading EV manufacturer, BYD, managed to export 56,000 vehicles last year with the Yuan Plus EV, also known as the Atto 3, proving particularly popular. While this remains significantly less than the 271,000 EVs that Tesla exported internationally from its Shanghai factory last year, BYD’s exports increased four-fold in 2022 alone and it is aiming to overtake Tesla as the world’s largest EV manufacturer this year.
Nio also has its sights set on Europe. It recently announced that it will launch an affordable EV brand in Europe and may also sell its models in the United States, giving Tesla chief executive Elon Musk other competitors to worry about.
“If the overall user experience we can provide to European users is better somehow, we can establish our competitiveness,” Nio president Win Lihong said. “We can get our fair share.”
