China 🇨🇳 is now the world’s largest auto 🚙 exporter

Short 🧵 below on China’s rise as an automotive superpower 📈 (1/9)

Cc: @Noahpinion @ElbridgeColby @NickKristof @Brad_Setser @PekingMike

China is now number 1️⃣

➡️ China 🇨🇳 exported 1.07 million vehicles in Q1, up 58% y-o-y

➡️ Japan 🇯🇵 exported 950,000 vehicles during the quarter

➡️ 35% of EVs 🔋 exported globally came from China last year, compared with 25% in 2021 (2/9)

www.wsj.com/articles/your-next-electric-vehicle-could-be-made-in-china-a288ab58?mod=mhp

Chinese 🇨🇳 car exports to
Europe 🇪🇺 are dominated by EVs and are exploding 

Chinese car exports 🚙 into the EU have shot up from $112m a month before the pandemic to around $1.1bn a month now  (3/9)

The world’s leading electric vehicle manufacturer (pure electric + hybrid) is China’s 🇨🇳 BYD
(4/9)

Many successful automakers make cars 🚙 in China 🇨🇳 including Tesla (5/9)

Cc: @elonmusk

China’s 🇨🇳 EV industry 🚙 gets a huge boost from the explosive growth of its domestic market 📈

(6/9)

China 🇨🇳 is already the Saudi Arabia 🇸🇦 of batteries 🔋

➡️ 6 of top 10 companies are Chinese

➡️ Top 2 Chinese producers, CATL & BYD, control 50.7% of global market

(7/9)

China 🇨🇳 also dominates upstream mineral processing and graphite mining ⛏️ (8/9)

To read more about China’s 🇨🇳 rise as an auto manufacturing 🚙 powerhouse, see the informative @WSJ piece below by @jackycwong (9/9)

www.wsj.com/articles/your-next-electric-vehicle-could-be-made-in-china-a288ab58?mod=mhp