BUSINESS

Chart of the Day: China’s Booming Exports of Green Transition Goods

Published: May. 20, 2025 8:02 p.m. GMT+8

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China’s exports of solar cells, passenger electric vehicles (EVs) and lithium-ion batteries continued to grow in April.

Beijing has dubbed these green transition-related products the “New Three” — as opposed to the “old” trio of key export products, namely clothing, furniture and home appliances.

Overseas shipments of all three increased last month, according to data from China’s General Administration of Customs. In terms of volume, solar cell exports grew the fastest, clocking a 66.6% year-on-year expansion, followed by passenger EVs at 37.8% and lithium-ion batteries at 25.8%.

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China’s exports of solar cells, passenger EVs, and lithium-ion batteries grew in April, with solar cell export volume up 66.6% year-on-year, EVs up 37.8%, and batteries up 25.8%.
Plug-in hybrid EV exports surged by 129.9% to nearly 79,000 units, outpacing BEVs; their EU growth is driven by lower tariffs compared to BEVs.
The value of solar cell exports fell 21.1%, while traditional exports like apparel and furniture also declined in value.

AI generated, for reference only

Who’s Who

SAIC Motor Corp. Ltd.: SAIC Motor Corp. Ltd. (600104.SH) is a Chinese automaker whose plug-in hybrid sales in the EU are expected to overtake its battery electric vehicle (BEV) sales this year, according to Rho Motion. In March, 49% of SAIC’s EV sales in the EU were plug-in hybrids, reflecting a shift amid higher tariffs on China-made BEVs.

BYD Co. Ltd.: BYD Co. Ltd. (002594.SZ) is a major Chinese electric vehicle maker. In the EU, plug-in hybrids now make up a large share of BYD’s exports, with 41% of its EV sales in the EU being plug-in hybrids as of March. Consultancy Rho Motion expects BYD’s plug-in hybrid sales in the EU to overtake its battery-electric vehicle (BEV) sales in 2024, reflecting shifting export strategies amid higher tariffs on pure EVs.

Chery Automobile Co. Ltd.: Chery Automobile Co. Ltd. has seen its plug-in hybrid sales in the EU surpass its battery-electric vehicle (BEV) sales. In March, plug-in hybrids accounted for 71% of Chery’s total EV sales in the EU, highlighting a shift in export strategy as plug-in hybrids become more popular among Chinese automakers facing higher tariffs on BEVs.

AI generated, for reference only

What Happened When

October 2024：: China-made battery-electric vehicles (BEVs) began facing additional EU tariffs ranging from 7.8% to 35.3% on top of the bloc’s standard 10% car duty.

March 2025：: 41% of BYD’s EV sales in the EU were plug-in hybrids; 49% for SAIC Motor; Chery Automobile’s plug-in hybrid sales made up 71% of its total EV sales in the EU.

April 2025：: China’s exports of solar cells, passenger electric vehicles (EVs), and lithium-ion batteries continued to grow. Solar cell exports expanded year-on-year by 66.6%, passenger EVs by 37.8%, and lithium-ion batteries by 25.8%. Nearly 79,000 plug-in hybrids were exported, up 129.9% year-on-year, and export value for plug-in hybrids jumped 93.3% to $1.58 billion. Exports of BEVs with fewer than 10 seats grew 17.6% to just over 198,000 units; export value rose 0.6% to $3.56 billion. The export value of traditional export products such as home appliances, apparel, headwear, furniture, toys, and luggage declined.