China’s electric car giant sends a signal to Europe: First freighter with 7,000 cars sets sail on the waves of the automotive revolution
The first cargo ship designed to export cars to Europe sets sail from China. Chinese electric car manufacturer BYD has chartered a vessel capable of carrying up to 7,000 cars.
The initiative follows BYD’s success in its home market and its drive to expand rapidly abroad. In the last quarter, BYD even became the world’s largest electric car manufacturer, overtaking even Tesla.
The growing presence of Chinese automakers in Europe has prompted a reaction from the European Union, which has launched an investigation into subsidies to Chinese manufacturers that may be distorting the EV market. This ship, manufactured by a Chinese shipping company, is the first vessel designed to export Chinese cars and is equipped with liquefied natural gas tanks, which serves as the main fuel to reduce emissions.
Last year, China overtook Japan to become the world’s largest exporter of cars. China’s total car exports rose 58 percent to 4.9 million vehicles, with electric vehicles playing a key role. China’s auto export growth in 2021 was also driven by Tesla’s increased production in Shanghai, which has become a major export hub. China’s car exports rose significantly to 2.2 million vehicles, surpassing South Korea and Germany, making China the world’s second largest car exporter.
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