China Emerges as Global Leader in Electric Vehicle Production and Export

Chinese automaker BYD surpasses Tesla as the world's largest EV producer, with China becoming the world's largest exporter of cars in 2023.

Chinese automaker BYD has surpassed Tesla as the world's biggest producer of electric vehicles (EVs), with other Chinese EV makers planning to rapidly expand in the European market with cheaper offerings.
China's exports rose more than expected in December 2023, but failed to offset an overall decline for the year. The country's trade with its major partners declined in 2023, with Russia being a rare bright spot.
Chinese electric vehicles are on the rise due to strategic decisions made more than a decade ago to develop the capacity to manufacture clean technology. This has put Chinese clean technology companies in a place to internationalize.
China became the world’s biggest exporter of cars in 2023, surpassing Japan and well ahead of the United States. The country is expected to have surpassed Japan as the world's largest exporter of cars in 2023.
Global sales of electric vehicles climbed 31% in 2023 compared to the year before as major automakers, from China's BYD to Tesla, achieved new sales milestones.