China's NEV Exports Surge 120% YoY in Q1 as Automakers Accelerate Localization and Ecosystem Expansion Overseas

In the first quarter of 2026, China exported a total of 2.226 million vehicles, up 56.7% year-on-year; among them, 954,000 were new energy vehicles (NEVs), surging 120% year-on-year. In March alone, vehicle exports reached 875,000 units, rising 30.2% month-on-month and 72.7% year-on-year; NEV exports totaled 371,000 units, up 130% year-on-year. At the High-Level Forum on Intelligent and Electric Vehicle Development held on April 11, 2026, Feng Xingya, Chairman of GAC Group, stated that China has ranked as the world’s top vehicle exporter for three consecutive years. He emphasized that entering the “second half” of global expansion hinges on two key factors: first, solid competitiveness grounded in product strength must be “credible”; second, soft power achieved through localization must enable Chinese brands to “integrate effectively” into overseas markets. Multiple Chinese自主品牌 automakers have set new export records. In March, Chery Group exported 148,800 vehicles, up 72% year-on-year, marking its 11th consecutive month with monthly exports exceeding 100,000 units. SAIC Motor exported 121,300 vehicles, an increase of 47.37% year-on-year. BYD exported 120,100 vehicles, up 65.2% year-on-year. Geely exported 81,600 vehicles, soaring 120% year-on-year, with NEVs accounting for approximately 64% of its exports. Changan Automobile surpassed 100,000 units in overseas sales in March, up 60% month-on-month. Among emerging EV makers, Leapmotor exported over 40,000 vehicles in Q1 2026, while XPeng exported 45,000 vehicles throughout 2025. Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers (CAAM), noted that NEVs are the core driver of export growth, with China’s complete industrial chain, stable delivery capabilities, and economies of scale significantly enhancing its international competitiveness. Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), remarked that drawing lessons from sectors like home appliances, Chinese automakers’ overseas strategies have matured, shifting from knock-down (KD) assembly toward diversified models such as localized production and overseas acquisitions. To date, seven Chinese automakers have invested in manufacturing plants in Thailand, with total investments exceeding USD 3 billion. More than 10 overseas factories led by Chinese automakers are already operational, and over 50 others are in planning or under construction. Chery is establishing a comprehensive localized system in Spain covering R&D, production, supply chain, and marketing. Meanwhile, international automakers are deepening cooperation with Chinese companies. In February 2026, executives from BMW, Mercedes-Benz, and Volkswagen accompanied the German Chancellor on a visit to China, announcing partnerships with CATL, Momenta, Huawei, and others. Mercedes-Benz acquired a stake in Qianli Tech, a Geely subsidiary, while Audi partnered with SAIC to co-develop an intelligent platform. Toyota has established a wholly owned Lexus plant in Shanghai and, for the first time, entrusted Chinese engineers with leading the development of new products. At the forum, Su Bo, Deputy Director of the Strategic Advisory Committee for Building China into a Manufacturing Power, stressed the need to proactively address international trade barriers and accelerate the globalization of Chinese technologies, standards, and rules. He called for a strategic shift from “product exports” to “ecosystem exports”—encompassing whole vehicles, technologies, components, brands, services, and localized manufacturing.