China became the world’s largest exporter of cars – a red carpet was rolled out for Elon Musk, who visited China

China became the worlds largest exporter of cars a

Electric cars are a success story in China, which is struggling with an uncertain economic outlook.

BEIJING World listed as the richest man multi-entrepreneur, owner of Twitter Elon Musk got the guest of honor treatment this week in China. Musk visited Beijing and Shanghai for the first time in three years.

During the Corona period, he had to manage his extensive Far Eastern business remotely, but at least it doesn’t seem to have hindered the development of results.

On the contrary: the MG brand of the Chinese subsidiary of Musk’s Tesla electric car has emerged as the country’s leading export of electric cars, together with China’s BYD. Its background is influenced by a US billionaire investor Warren Buffett.

Car exports dropped all over the world in 2020–2022 because of the corona virus. Now the growth rates are high, and especially in China.

In the first quarter of this year, the export of Chinese electric cars grew by as much as 90 percent from the previous year. This helped China rise for the first time the largest car exporter in the world.

In January–March, China exported 1.07 million cars, of which approximately 335,000 were electric cars. This way, it surpassed Japan, which exported a total of 954,185 cars in the same period.

China surpassed its second competitor, Germany, in exports already last year.

Fast ahead of the United States

The achievement has received a lot of attention in China, as the economy of the country recovering from the corona era has coughed up in recent months. Successful products similar to electric cars have not emerged from China for some time.

China has long invested in electric cars in the domestic market. Currently, about a quarter of all new passenger cars sold in the country are electric cars.

The share of electric and hybrid cars in China’s passenger car fleet was 24 percent last year, while it In the US it was seven percent.

About the Finnish car fleet there are a couple of percent of electric cars.

The Chinese have thanked businessman Musk for developing his business in China even in the face of the trade war. Musk met the Chinese Minister of Commerce in Beijing Wang Wentao and Foreign Minister Qin Gang’s.

– China always welcomes foreign representatives of the business world like Mr. Musk, spokesperson of the Ministry of Foreign Affairs Mao Ning assured.

You can discuss the topic until Monday 5 June 2023 at 11 p.m.

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