In 2023, China saw tremendous growth in its new energy vehicle (NEV) production and sales, solidifying its position as a global leader in the electric mobility space.<\/p>\n\n\n\n
According to a report by People’s Daily, the production and sales of New Energy Vehicles (NEVs) in China surpassed 9.58 million and 9.49 million units respectively, showcasing a significant increase of 35.8% and 37.9% respectively compared to the figures from 2022.<\/p>\n\n\n\n
Moreover, the export of NEVs witnessed a substantial surge of 77.6%, reaching over 1.2 million units. These notable accomplishments vividly underscore the robustness and prowess of China’s manufacturing industry.<\/p>\n\n\n\n
Chinese automakers continued to innovate and introduce new technologies in 2023. Changan tested an upcoming model capable of adding 200km of range from a 10-minute, 800V high-voltage ultra-fast charge enabled by silicon carbide technology. In recent years, Chinese NEVs have achieved advances in charging, drive systems, connectivity and assisted driving features.<\/p>\n\n\n\n
To meet booming international demand, major Chinese automakers moved decisively to establish overseas production capacity in 2023. In December, NEV leader BYD shared plans for a new Hungarian plant. Earlier, BYD announced a $633 million, three-factory complex launching production in Brazil this year.<\/p>\n\n\n\n
Other carmakers like Changan, SAIC and NETA revealed billion-dollar plans for factories in Thailand. SAIC sold over 1.2 million overseas vehicles in 2023, up 18.8%, retaining its number one spot for eight straight years. SAIC’s MG brand now reaches 28 European countries, with over 100,000 sales there last year.<\/p>\n\n\n\n
Beyond manufacturing expansion, Chinese EV startups also attracted major international investments reflecting confidence in their technologies. Volkswagen took a $700 million, 5% stake in electric vehicle upstart Xpeng, as the giants pursue closer collaboration.<\/p>\n\n\n\n
Audi signed an MoU with SAIC to leverage Chinese expertise in jointly developing new EVs. In October, Stellantis committed \u20ac1.5 billion to become a strategic shareholder of Leapmotor, eyeing 2024 sales of Leapmotor\u2019s distinct high-tech budget EVs in Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"
In 2023, China saw tremendous growth in its new energy vehicle (NEV) production and sales, solidifying its position as a global leader in the electric mobility space. According to a report by People’s Daily, the production and sales of New Energy Vehicles (NEVs) in China surpassed 9.58 million and 9.49 million units respectively, showcasing a …<\/p>\n","protected":false},"author":4,"featured_media":57553,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57552","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/57552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=57552"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/57552\/revisions"}],"predecessor-version":[{"id":57554,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/57552\/revisions\/57554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/57553"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=57552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=57552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=57552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}