China EVs Making International Waves

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China-made electric vehicles (EVs) are blazing a trail not just in the domestic market, but also increasingly making inroads overseas and helping to accelerate the erosion of transport oil demand on a global level. Latest data shows some 60,000 units of China-made EVs, including pure-electric, plug-in hybrid and fuel-cell models, were exported to the rest of the world during October. That represents a stunning year-on-year growth of over 700%. For now, exports are led by Tesla’s Shanghai factory, which accounted for 40,666 units, or over two-thirds of China-made EVs exported in October, according to the China Passenger Car Association. Tesla’s Shanghai plant has reached an annual production capacity of 450,000 units and “remained our main export hub ... and we are driving improvements to increase the production rate,” the US EV maker said in its third-quarter report.

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