China's new energy vehicle exports demonstrated robust growth in the first quarter, with leading automakers BYD and Geely spearheading the expansion. The industry is undergoing a significant transformation from merely exporting products to establishing comprehensive overseas ecosystems.
Recent customs data revealed that China's total import and export value of goods reached 11.84 trillion yuan in Q1, marking a 15% year-on-year increase. Exports accounted for 6.85 trillion yuan, growing by 11.9%. Mechanical and electrical products constituted the core support for foreign trade growth, with export value reaching 4.34 trillion yuan (63.4% share) and showing an 18.3% increase. Within this category, green products exhibited particularly strong performance. Exports of electric vehicles, lithium batteries, and wind turbine components grew by 77.5%, 50.4%, and 45.2% respectively, with new energy vehicles leading the expansion.
As a crucial growth engine in the global new energy sector, China has established dual advantages in technology and complete industrial chains. The rapid growth of NEV exports not only injects new vitality into foreign trade but also promotes domestic industrial upgrading toward higher quality, technology, and value-added products. Industry data shows that China exported 954,000 NEVs from January to March, representing a 116.2% year-on-year increase. This accounted for 42.9% of total vehicle exports, up from 36.8% throughout 2025. March alone saw a record monthly export of 371,000 units, increasing 31.6% month-over-month and 130% year-over-year. These achievements reflect Chinese automakers' continuous efforts in technology research, industrial chain development, and global strategic deployment.
Leading automakers demonstrated particularly strong export performance. Industry leader Byd Company Limited maintained its dominant position in NEV exports. According to production and sales reports, the company produced 708,000 and sold 700,500 NEVs during the first quarter. March exports reached 120,000 units, setting a new annual record. The company disclosed that overseas sales of new energy passenger vehicles and pickup trucks totaled 319,800 units in Q1, accounting for 45.62% of total quarterly sales.
This growth continues the momentum from 2025, when BYD's annual exports surpassed one million units for the first time, reaching 1.04 million vehicles (a 140% increase). Total domestic and international sales reached 4.6 million vehicles. Automotive revenue constituted 648.65 billion yuan of the company's 804 billion yuan total revenue, growing 5.06% year-on-year. The company has maintained its position as the global NEV sales leader for four consecutive years. Overseas revenue reached 310.7 billion yuan, increasing 40.05%.
GEELY AUTO also delivered impressive export results. In March, the combined sales of Geely, Lynk & Co, and Zeekr brands reached 233,000 vehicles, including 127,300 NEVs. Monthly exports totaled 81,600 units. First-quarter cumulative sales reached 709,400 vehicles, with NEVs accounting for 369,100 units (52.03% of total sales). Total exports reached 203,000 units, growing 126% year-on-year. Throughout 2025, the three brands sold 3.0246 million vehicles (39% growth), including 1.6878 million NEVs (90% growth). Annual exports reached 420,000 units, a 134% increase, establishing both new energy and export businesses as key growth drivers.
Chery Automobile also showed strong NEV export performance. The company achieved record-breaking sales of 2.631 million vehicles in 2025, including 827,000 NEVs that became a new growth driver. Exports reached 1.294 million vehicles, increasing 33.2% year-on-year, demonstrating robust overseas market expansion capabilities. Latest sales figures show the group sold 601,712 vehicles in Q1 2026, including 240,678 units in March (12.1% growth). Export performance was particularly notable, with 393,311 vehicles exported in Q1 (53.9% growth) and 148,777 units in March alone (72% growth), setting a new monthly export record for Chinese brands.
Strong export performance supported automakers' financial results. Among 22 listed automotive companies, 16 have released their 2025 annual reports. Thirteen companies reported year-on-year revenue growth (81.25%), while 11 achieved profitability (68.75%). Eight companies reported net profit growth (50%).
Qianli Technology showed the fastest revenue growth at 42.13%. The company sold 33,600 NEVs in 2025, increasing 37.06% year-on-year and accounting for 31.63% of total vehicle sales. NEV exports reached 666 units, representing 1.98% of total NEV sales.
Saic Motor Corporation Limited led in net profit growth with a 199.04% year-on-year increase, achieving 17.444 billion yuan in net profit. Revenue reached 656.244 billion yuan, growing 4.57%. The company attributed this performance to comprehensive reforms, successful market expansion, increased smart electric vehicle sales share, and improved operational efficiency through strategic implementation.
The company sold 4.5075 million vehicles in 2025 (12.3% growth), capturing 13.1% market share. NEV sales reached 1.643 million units (33.1% growth), exceeding the national average by nearly 5 percentage points. Self-owned brand NEV sales approached 1.5 million units, growing nearly 50%. Exports and overseas sales reached 1.071 million units (3.1% growth), establishing the company as a cornerstone of Chinese automotive global expansion.
In Q1 2026, Saic Motor sold 972,800 vehicles (2.95% growth), including 324,900 export and overseas sales (48.34% growth). NEV sales reached 269,800 units, decreasing slightly by 1.15%.
Behind the expanding export scale, Chinese automakers are transitioning from product exports to ecosystem globalization. Global layout has become the core strategy for breaking growth bottlenecks and achieving sustainable development. Since 2026, with policies like pure electric passenger vehicle export license management taking effect and sustained overseas demand, China's NEV global expansion has entered a high-quality development phase, continuously reshaping the "Made in China" brand value worldwide.
Domestic market saturation and capacity optimization needs are accelerating automakers' globalization. With over 120 brands and nearly 1,000 models competing domestically, capacity utilization remains low while normalized price wars have narrowed dealer profitability to 23.5% - a multi-year low. Overseas markets present substantial structural growth opportunities, with an estimated accessible market capacity of 40 million vehicles. Emerging markets like Latin America, Southeast Asia, and the Middle East remain in the early stages of electrification, while mature markets like Europe provide crucial platforms for brand upgrading. With leading advantages in core technologies like batteries and electronic controls, plus cost competitiveness, Chinese NEVs have become preferred choices for global consumers, driving higher-quality global industry development. Industry projections estimate that by the end of the "16th Five-Year Plan" period, Chinese automakers' combined export and overseas production volume will exceed 10 million units, maintaining over 10% compound annual growth rate.
"Globalization isn't merely about product exports but comprehensive output of technology, products, services, and brand value," stated Kang Bo, Vice President of Seres Group, at the 2026 Smart Electric Vehicle Development High-Level Forum. He proposed a three-phase development path for Chinese brands going international: initial market entry through trade cooperation; subsequent advancement through localized production and R&D; and finally achieving global output of technical standards and brand value. This pathway has been validated through leading enterprises' practices.
As a globalization leader, BYD established operations across 119 countries and regions by 2025, forming a pattern of "Latin American leadership, European breakthroughs, and diversified Asia-Pacific presence." The company ranked among the top three sellers in multiple Southeast Asian countries and achieved multiple growth in core European markets. To build long-term competitiveness, BYD created a full-chain ecosystem covering "R&D + manufacturing + transportation + sales." Its Brazil factory completed construction and produced its first vehicle within 15 months, while the Thailand factory delivered 90,000 vehicles in its first year. European headquarters in Hungary and Cambodia factory further完善 global production network, supported by eight self-owned roll-on/roll-off vessels providing solid supply chain support for globalization.
Chery Automobile drives forward with dual "brand globalization" and "ecosystem globalization" strategies, adhering to the "In Somewhere, For Somewhere, Be Somewhere" philosophy. Products cover over 100 countries and regions worldwide. By end-2025, Chery operated 12 major production bases globally, including two overseas bases effectively enhancing regional delivery efficiency and compliance capabilities. In high-regulation European markets, Chery entered 16 countries, with its Spanish cooperation project hailed as a "model example of China-Spain cooperation." European sales grew over 200% year-on-year.
Saic Motor has established one "300,000-unit level" (Europe) and five "50,000-unit level" regional markets, with products and services spanning 170+ countries and regions. Its MG brand surpassed 300,000 sales in Europe, becoming the best-selling Chinese brand there and ranking among the top ten passenger vehicle markets in 18 countries. SAIC-GM-Wuling deepened its "Indonesia-Malaysia-Thailand" integration strategy, increasing NEV production and sales share to 80% at its Indonesian base. IM Motors and commercial vehicle segments also achieved rapid growth in overseas markets.
Emerging automakers are injecting new vitality into the global expansion阵营. Leapmotor pioneered a differentiated globalization path through its joint venture with Stellantis, exporting over 40,000 vehicles in Q1 2026. European registrations reached 23,300 units across 16 countries (726.5% growth), securing top position in Italy's pure electric vehicle market with 33.5% share. German market registrations grew 370.7% year-on-year. Leapmotor established a European Innovation Center in Munich and completed its Myanmar SKD factory from signing to delivery in just 16 months. Through parallel pure electric and range-extended product strategies adapting to different market needs, overseas sales and service outlets have reached approximately 950 locations.
However, the globalization热潮 faces multiple challenges. Prevailing global trade protectionism and escalating geopolitical tensions have led to trade barriers including additional tariffs, minimum pricing requirements, and strengthened "carbon footprint" calculations. The US imposes comprehensive tariffs up to 102.5% on Chinese electric vehicles, while the EU has implemented anti-subsidy duties up to 35.3%. Meanwhile, multinational automakers are accelerating their NEV product matrix development, intensifying market competition. To safeguard Chinese automakers' overseas competitiveness, national policies like the pure electric passenger vehicle export license management implemented from January 1, 2026, have prevented "near-new vehicles" from disrupting overseas pricing systems. Additionally, the "Automotive Data Cross-Border Security Guidelines" issued in early February provided compliant channels for smart connected vehicle data cross-border flow, clearing some obstacles for global expansion.
Facing complex global market conditions, Chinese NEV manufacturers are adopting localization strategies, with "industrial rooting" becoming a new trend. Projects like BYD's Szeged super factory in Hungary and CATL's Hungarian super factory promote collective industrial chain migration, transitioning from "complete vehicle exports" to "local manufacturing + supply chain globalization." This deep localization not only effectively circumvents trade barriers but also enables better adaptation to different markets' regulatory standards and consumption habits, completing the transformation from "Chinese enterprises" to "global enterprises."
From domestic markets to global stages, China's NEV globalization journey has progressed from scale expansion to quality improvement in its second half. As more enterprises achieve global coordination in R&D, manufacturing, supply chains, and services, Chinese new energy vehicles will become crucial forces in the global automotive electrification transformation.
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