Official announcement from BYD or verified news sources

China's Global Car Exports Surge to 6 Million, 1 Million Imports

Sep 19, 2024, 09:50 AM

China has launched a significant global expansion in the automotive industry, exporting an estimated 6 million cars to over one hundred countries this year. This marks a substantial shift from four years ago when China's auto trade was balanced. China is now a net exporter with 6 million exports versus 1 million imports. Chinese automakers are also making strategic moves to enter the European market by producing cars locally to avoid tariffs. BYD, a leader in China's electric vehicle sector, is constructing a plant in Hungary, while other Chinese companies are expanding through joint ventures in Europe. China has now become the world's largest vehicle market, exporter, and a global hub for electric vehicles.