Leading Chinese carmakers like BYD and Chery Automobile are reaping rewards from their efforts to boost sales abroad, as they chase higher profitability amid rising demand for electric vehicles (EVs), reports the South China Morning Post.
Chery, which spearheaded the go-global drive among mainland China’s automotive groups and is the country’s largest car exporter, delivered three times as many cars overseas as at home last month. The state-owned company, based in eastern China’s Anhui province, handed 181,571 vehicles to customers outside the mainland in May, up 81% from a year earlier. Overseas sales accounted for 73% of its total sales for the month.
BYD, the world’s largest EV builder, also posted an 81% year-on-year jump in overseas sales last month, with its 160,177 units representing 42% of its total sales.