finance
Chinese EV exports hit record high
Global exports of Chinese electric vehicles hit $9.4 billion in April. Shipments more than doubled in May compared with the prior year as fuel prices rose.
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Global exports of Chinese electric vehicles reached a record $9.4 billion in April, according to an analysis by think tank Ember of Chinese customs data. Shipments increased to markets including Australia, Brazil, Southeast Asia and East Africa. China exported about 435,000 passenger EVs and plug-in hybrids in May, more than double the total from a year earlier, the Chinese Association of Automobile Manufacturers reported.
The increase followed the blockade of the Strait of Hormuz, which disrupted shipping of about a fifth of the world’s crude oil and liquefied natural gas.
Rising demand in developing markets Governments in Laos, Ethiopia and other countries have moved to cut oil import costs by encouraging electric vehicle adoption. Laos banned imports of fuel-powered vehicles for the rest of 2026. Africa imported around 44,000 Chinese EVs in 2025, a 130 percent increase from the previous year, according to Chinese Commerce Ministry data.
Transportation accounts for nearly a fifth of household spending in South Africa, according to a 2024 study by Stellenbosch University. One in four new cars sold worldwide last year were electric, the International Energy Agency said. The agency projects global electric car sales will reach 23 million units in 2026.
Charging infrastructure trails adoption Thailand has around 4,600 public charging locations for more than 424,000 battery EVs and plug-in hybrids, or one station for every 92 vehicles, the Electric Vehicle Association of Thailand reported. Ethiopia had about a dozen charging stations as of mid-2025 and estimates it needs more than 1,170 stations to meet demand.
State-owned utilities in Indonesia, Kenya and South Africa are building additional stations. Indonesia has more than 4,500 public chargers installed by state utility PLN. Kenya Power plans to build 44 stations within the next year. "You need charging infrastructure to support an even larger fleet size," said Paul Gong, head of UBS bank’s China automotive industry research.
