Compared to the increasing domestic sales, the growth rate of new energy vehicle exports is faster.

According to market data, domestic new energy passenger vehicles increased by over 10% year-on-year in January, while in terms of exports, the export volume of new energy vehicles in China reached 139000 units in January, a year-on-year increase of 29.4%.

In January, the overall growth of new energy vehicles continued the strong growth characteristics of last year, with new energy vehicle models accounting for 36% of the total export volume of passenger cars, an increase of nearly 8 percentage points compared to the same period last year.

Among them, the proportion of pure electric vehicles is as high as 66%, with an export volume of about 90000 units and plug-in hybrid models of about 40000 units. Compared with the same period last year, the export of pure electric vehicles has increased by nearly 30%, and the export of plug-in hybrid models has doubled year-on-year.

Sorting out the changes in the export of new energy vehicles in 2024, it showed a fluctuating upward trend throughout the year. The export of new energy passenger vehicles in 2024 was 2.01 million units, a year-on-year increase of 12%. From the perspective of vehicle models, pure electric vehicles exported 1.7 million units, a year-on-year increase of 6%, while plug-in hybrid vehicles exported 320000 units, a year-on-year increase of 128%.

It can be seen that from 2024 to 2025, the export growth of pure electric vehicles will significantly slow down, mainly due to the impact of the EU's electric vehicle tariff policy, coupled with US trade protectionism, which restricts the export of pure electric vehicles. In contrast, the export of plug-in hybrid vehicles is continuing the high-speed growth track of the past two years in China, supporting the export growth of new energy vehicles.

Due to the high cost and high supply chain requirements of pure electric vehicles, mainstream car companies in Europe and America are gradually transitioning to plug-in hybrid models. In terms of policy, in January 2025, the European Union will implement new carbon emission regulations, limiting the average emissions of new cars to no more than 93.6 grams per kilometer.

Considering carbon emissions and costs, plug-in hybrid models are expected to become the preferred choice for electrification transformation in the European region. Plug in hybrid models are expected to continue to be the main driving force for new energy vehicles in 2025.

From the perspective of export enterprises, the export market is showing the same trend as the domestic new energy vehicle market - the strong always remain strong. Among them, BYD exported 66000 new energy vehicles in January, a year-on-year increase of over 80%, significantly higher than the overall industry growth rate.

Similar to the pattern of the domestic new energy vehicle market, it is expected that the concentration of the electric vehicle export market will further increase by 2025.

Of course, there is still uncertainty regarding trade protectionism and geopolitics in 2025, such as the European and American markets boosting their domestic electric vehicle industry chains, which are more inclined towards local investment and factory construction. If local electric vehicle production capacity is released in Europe and America in the future, it will also affect the subsequent growth of electric vehicle exports.

However, overall, China's new energy vehicles have outstanding technological advantages in intelligent driving and three electric fields. In recent years, more and more domestic new energy vehicle companies have expanded into markets such as South America, Southeast Asia, and the Middle East, which has brought more resilience to the export growth of Chinese new energy vehicle companies. It is expected that the Chinese new energy vehicle export market will continue to maintain a growth trend in 2025.