BYD's car carrier ships (Source: BYD)

  According to a report by the China Association of Automobile Manufacturers (CAAM), Chinese auto exports in the first half (H1) of 2024 grew 30.5% year-over-year (y/y) to 2.793 million units. Of this total, exports of new energy vehicles (NEVs) increased by 13.2% y/y to 605,000 units.

  In 2023, BYD accelerated its overseas expansion. BYD Auto Co. Ltd.’s (BYD) NEV passenger cars are now available in more than 50 countries and regions, including Japan, Germany, Australia, Brazil, and the UAE, mainly exporting PHEVs and BEVs. As of August 1, 2024, BYD's NEVs have been deployed in 88 countries and regions worldwide, with the cumulative export volume of NEV passenger cars exceeding 510,000 units.

  Geely Automobile Holdings Limited's (Geely) exports in H1 of 2024 increased 67% y/y to 197,000 units. The company exports internal combustion engine vehicles (ICE), HEVs, PHEVs, BEVs, etc. As of August 2024, Geely exports 18 products to nine Southeast Asian countries, including Myanmar, Cambodia, Laos, the Philippines, Vietnam, Singapore, Thailand, Malaysia, and Indonesia. In addition, in the first half of 2024, the company opened more than 120 new global sales and service offices, bringing the cumulative total to more than 650 sales offices in 76 countries worldwide.

  This report mainly summarizes the current status of China's automobile exports and the recent overseas expansion of BYD and Geely.

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