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China has doubled its exports of electric cars,



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China’s car exports rebounded significantly in May, and electric vehicle deliveries more than doubled, with most reaching Europe, according to the Bloomberg platform.

Chinese carmakers delivered $ 1.2 billion worth of electric cars last month, up 122 percent from May 2021 and nearly three times the level in April when many factories were shut down due to restrictions.

In total, $ 2.8 billion was exported in several passenger vehicles, the fourth highest monthly level in recent years.

While sales in the Chinese market have fallen in 11 of the last 12 months, Chinese carmakers have increased their overseas deliveries, with exports exceeding 2021 total in the first five months of this year.

The largest market is Europe, where in May almost half of the deliveries and about three quarters of the exports of electric vehicles arrived.

China’s current overcapacity and weak domestic sales mean it will continue to be a major exporter in the medium term, said Stephen Dyer, director of consulting firm AlixPartners.

China accounted for nearly 60 percent of global electric vehicle exports last year, and the trend continues in 2022, although Europe’s new Tesla plant could slow exports from China, Dyer added.

Tesla shipped more than 22,000 cars abroad in May, after exporting only 60 in March and none in April, when production was halted due to restrictions in Shanghai.

“Resumption of production in Shanghai has made a significant contribution to car exports,” said Cui Dongshu, secretary general of the China Auto Association.

Exports of electric vehicles accounted for 21 percent of total deliveries, supporting the recovery of major automakers such as Tesla and SAIC Corp., both based in Shanghai, Dongshu added.