BY Jack Davis, The Western JournalJanuary 29, 2023
1 year ago

China Now Threatens to Overtake Top Spot in World

China is roaring up to give Japan a run for its money as the top vehicle exporter in the world, having left Germany in its dust.

The China Association of Automobile Manufacturers said that in 2022, China shipped 3.11 million vehicles abroad, roughly half a million vehicles more than Germany, which shipped out 2.61 million vehicles to other nations, according to CarScoops.

Japan’s full-year data was not available, but it was at 3.2 million vehicles through November.

China’s figure represented a 54 percent increase over 2021.

“Rising exports are a clear sign that Chinese carmakers’ development and manufacturing capabilities have largely improved following four decades of efforts,” CEO of Shanghai Mingliang Auto Service Chen Jinzhu said, according to the South China Morning Post.

Electric vehicles are a major force in China’s growth. Citic Securities has projected that in  2030, China will export 5.5 million vehicles, with 2.5 million of them being electric.

William Li, CEO of Nio, said his company will be a force in North America by 2027.

“We are planting the seeds to chase new growth opportunities outside China. Nio does not aim to be a copycat. Instead, we want to carve out a reputation in the international market,” he said last month.

Cui Dongshu, secretary general of the China Passenger Car Association, said that in addition to African and Middle Eastern markets, Chinese automakers are making inroads in North America and Europe in nations such as Mexico and Belgium, according to the state-run China Daily.

China is the world's main producer of electric vehicle batteries and other components, the South China Morning Post reported.

"If you have that kind of supply chain, that kind of position on the chess board, then why wouldn't you take that internationally?” CEO of Automobility Bill Russo said, according to Business Insider.

"There's a difference between people's allegiances to their country and what they buy at the store. One thing that's absolutely universal is people buy affordability,” he said.

But would Americans buy a Chinese car?

"By far the biggest obstacle is politics. You have a lot of anti-China sentiment. If they can somehow overcome that, I think a lot of Chinese auto companies would love to get a crack at the market,” Deutsche Bank analyst Edison Yu said.

Europe is already bracing for battle.

“We have to have them on the radar screen, without counting out the usual suspects,” Mercedes-Benz Group AG Chief Executive Officer Ola Kallenius said, according to Bloomberg. “The competitive intensity is increasing.”

“To fight the Chinese, we will have to have comparable cost structures. Alternatively, Europe will have to decide to close its borders at least partially to Chinese rivals. If Europe doesn’t want to put itself in this position, we need to work harder on the competitiveness of what we do,” Stellantis NV CEO Carlos Tavares said last month.

This article appeared originally on The Western Journal.

Written by: Jack Davis, The Western Journal

NATIONAL NEWS

SEE ALL

Trump Reveals VP Shortlist Including DeSantis, Scott, Ramaswamy, Noem, Donalds, Gabbard

In a surprising move that shakes up the political landscape, former President Donald Trump has unveiled a diverse mix of political figures as potential running…
20 hours ago
 • By Staff Writers

Kamala Harris Hits Campaign Trail As Rumors Swirl That She’s Taking Over For Biden

In a significant mobilization effort ahead of the 2024 election, Vice President Kamala Harris convened with black leaders in Pittsburgh. This meeting signifies the Biden…
20 hours ago
 • By Staff Writers

James Biden Testimony Rattles White House As Rumors Swirl Of Unethical Activity

In a high-stakes testimony, James Biden declared his brother, President Joe Biden, completely detached from his business dealings amidst swirling controversy and scrutiny. Amid an…
20 hours ago
 • By Staff Writers

Trump Lawyer Confirms Team Will Appeal Civil Fraud Ruling

In a landmark decision, a New York judge has imposed a hefty fine and business ban on former President Donald Trump. Judge Arthur Engoron's ruling…
20 hours ago
 • By Staff Writers

Tom Brady Forced To Ditch BetMGM Deal As Speculation Mounts On Life After Football

In a significant turn of events that underscores the intersection of sports, business, and gambling regulations, Tom Brady, the celebrated NFL quarterback turned entrepreneur, faces…
21 hours ago
 • By Staff Writers

DON'T WAIT.

We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:

    LATEST NEWS

    Newsletter

    Get news from American Digest in your inbox.

      By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, http://americandigest.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.
      Christian News Alerts is a conservative Christian publication. Share our articles to help spread the word.
      © 2024 - CHRISTIAN NEWS ALERTS - ALL RIGHTS RESERVED
      magnifier