China’s new energy vehicle (NEV) exports grew more slowly in June due to the EU’s new tariffs on Chinese EV imports. This impact may only be temporary, according to industry officials.
Exports of China’s NEVs, including pure electric vehicles (EVs) and plug-in hybrid cars, fell by 15.2% in June compared with May, although they still rose by 12.3% year on year. Cui Dongshu, the secretary general of the CPCA, stated that China’s NEV exports faced temporary pressure, with export growth dropping to just above 10% from the previous annual range of 30% to 40%. He indicated that the European Union’s new tariffs had a significant impact on exports.