China’s exports of electric vehicles doubled in September as domestic competition increased

China’s exports of electric vehicles doubled in September from a year earlier as its automakers expanded their reach into overseas markets.

Domestic passenger car sales rose 11.2% year-on-year last month, down from 15% growth in August. China The Automobile Manufacturers Association said this on Tuesday.

Exports of “new energy vehicles”, including battery electric vehicles and plug-in hybrids, rose 100% to 222,000 units in September, the industry body said. This was slightly lower than the 224,000 units exported in August.

China’s EV makers are increasingly looking to markets overseas such as Europe And Southeast Asia As overcapacity and price wars domestically have put pressure on their profit margins. US-based consultancy Rhodium Group said in a recent report that for the first time since 2014, they invested more abroad than in China last year.

BYD – one of China’s largest EV makers – said this month that united kingdom It has become its largest market outside China. Its sales there increased 880% year-on-year in September.

Chinese automakers are rapidly increasing investments in the Middle East and Africa European UnionThe US, Canada and other countries imposed stringent tariffs on Chinese-made EVs.

In China, manufacturers are cracking down on a price war sparked by fierce competition.

BYD’s monthly domestic sales fell in September for the first time since February 2024, down 5.5% from the same month a year earlier, while some of its rivals still posted strong sales growth.

September is a traditional peak period for auto sales in China, with carmakers launching various new models in the month called “Golden September”.

Subsidies for trade-in for new energy vehicles have helped boost domestic demand and sentiment, although some local governments have suspended such payments in recent months.