BEIJING - Brazil has overtaken Belgium as the largest export market for Chinese new energy vehicles, industry data showed, as Chinese carmakers increase sales to non-European markets amid European Union's anti-subsidy probe into Chinese electric vehicles.
The steep increase in exports to Brazil, which was the 10th largest export market in January, comes ahead of a further increase in tariffs on EVs and hybrid vehicle imports from July as the South American country seeks to encourage local auto production. Russia, which is subject to Western sanctions, is expected to remain China's largest car export market, said CPCA secretary general Cui Dongshu.
EU's anti-subsidy probe has disrupted Chinese vehicle exports to the bloc, but the country's carmakers have been actively exploring South America, Australia and ASEAN markets for exports, Cui said.