BEIJING/SHANGHAI — Chinese automakers and shippers are ordering a record number of car-carrying vessels to support a boom in EV exports, data showed, putting China on course to amass the world's fourth-largest fleet by 2028.
"After this armada has been delivered to China, the Chinese controlled car carrier fleet will jump from current 2.4% to 8.7%," Veson analyst Andrea de Luca said."We expect to see new trade routes established almost exclusively for Chinese OEMs ." BYD alone exported over 240,000 cars in 2023, about 8% of its global sales, and plans to export up to 400,000 this year.
But the export rise has prompted the U.S. and EU to accuse China of trying to deal with excess industrial capacity by flooding their markets with low-priced products.