China saw a new monthly export record for electric vehicles in November, fuelled by European carmakers that farmed out the production to the country, Bloomberg reported on Wednesday.
According to figures from the country’s customs office, Chinese automakers shipped a record $3.2 billion worth of electric vehicles in November, up 165% from a year ago. Nearly 70% of the exports went to European countries including Belgium and England.
In two consecutive months, electric vehicle exports accounted for more than half of all car shipments, with November setting a record high of US$6 billion.
Due to limited production capacity in their home markets, European automakers like Volkswagen and BMW are planning to manufacture parts and vehicles in China. Chinese automaker SAIC Motor, which owns the British brand MG Motors, has expanded its distribution network to include the sale of imported electric vehicles in Europe.
