BEIJING, July 1 (Xinhua) -- Chinese new-energy vehicle (NEV) brands are expected to take up 9 percent of the West Europe NEV market in 2023, up from the 6-percent share last year, according to an industry report published by the global consultation firm TrendForce.
For the NEV market in Southeast Asia, the share of Chinese vehicles is expected to rise from 52 percent in 2022 to 63 percent this year, according to data.
China has a more complete supply chain and sufficient productivity due to its early development of the NEV industry, coupled with Chinese battery manufacturers to master cost-effective lithium iron phosphate battery technology and production capacity, the report said.
In the first five months, China exported nearly 1.76 million units of vehicles, among which 457,000 were NEVs, data from the China Association of Automobile Manufacturers showed. ■
