China’s exports of electric vehicles surged by 87% in November from a year earlier, with Asia and Europe taking the highest number of Chinese EVs, per data from China’s customs office cited by Bloomberg.
Asia remained the top export market for China-made EVs, with a 71% jump in sales, to 110,061 units in November compared to the same month of 2024. Sales in Europe surged by 63% to nearly 43,000 vehicles last month, according to the official Chinese export data.
The region of Latin America and the Caribbean saw sales of China-made EVs soaring by a whopping 283% year-over-year, to 35,182 cars in November.
The domestic Chinese market already has sales of EVs outpacing the sales of conventional fossil-fuel powered vehicles, with EVs now consistently exceeding a 50% share of total new car sales each month.
But China is now also leading the global race for EV dominance, as policy reversals in Europe and strategic pullbacks by U.S. automakers reduce competitive pressure just as Chinese EV makers push aggressively into overseas markets.
For China, the export market has shrunk over the past two years amid hefty tariffs in the United States, where vehicles face 100% tariffs, and levies in the European Union of between 17% and 38%, depending on the manufacturer.
However, China is winning key emerging markets over, with soaring sales in Indonesia, Singapore, and Vietnam in Southeast Asia, and in Latin America, where Uruguay, Mexico, and Brazil are seeing booming EV sales, too.
Since mid-2023, almost all the growth in Chinese EV exports has come from non-OECD markets, clean energy think tank Ember said in a report earlier this month. Brazil, Mexico, the United Arab Emirates (UAE), and Indonesia are among the ten largest destinations for Chinese EV exports as their governments have introduced policies to support EV adoption.
“Emerging markets will shape the future of the global car market,” said Euan Graham, Global Electricity and Data Analyst at Ember.
By Tsvetana Paraskova for Oilprice.com
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