EU and Canada Tariff Breakthroughs Deliver Boost for Stable Growth of China's EV Exports

According to the latest research report from China Renaissance Securities, China's electric vehicle (EV) exports are entering a safer and more stable development environment, following last week's new agreement between China and the EU on EV imports and Canada's reinstatement of most-favored-nation (MFN) tariff rates for quota-based Chinese EV imports. The report notes that China’s auto exports currently enjoy vast market potential, rapid growth, and high return on equity (ROE), making them a crucial driver for growth and valuation support for automakers. The report specifically recommends BYD, Geely Automobile, and Great Wall Motor, and suggests keeping an eye on Leapmotor, Changan Automobile, SAIC Motor, and Chery Automobile.