BUSINESS

China Green Exports Surge Amid Oil Shortages

Published: Apr. 20, 2026 5:51 p.m. GMT+8

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China’s exports of electric vehicles (EVs), solar cells and lithium-ion batteries surged significantly in March, reflecting a sudden spike in demand for green energy products as the U.S.-Israel-Iran war chokes global crude oil supply.

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.

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China's EV exports surged 65% YoY to $7.3B in March: 206,700 pure EVs (+42%), 115,600 plug-in hybrids (+86%).
Solar cells exports: $4.5B (+80%); lithium-ion batteries: $9.7B (+70%).
Dubbed "New Three"; faces foreign import curbs, tax rebate cuts.

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Nomura: Nomura analysts noted that the energy crisis from the Strait of Hormuz closure has fueled overseas demand for China's renewable energy products, a trend expected to strengthen through 2026 due to China's strong green energy manufacturing capabilities.

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