Chinese automobile exports surged by 63.7% in 2023, according to data from the China Association of Automobile Manufacturers (CAAM), the news agency Interfax-Ukraine reported on Jan. 12.

Much of the increase can be attributed to the emergence of Russia as a crucial foreign market for Chinese auto manufacturers who delivered 840,000 vehicles, including trucks and buses, to Russia in the first 11 months of 2023.

This growth has made China the world’s largest car exporter, surpassing Japan. Between Januaryand November 2023, Japan exported 3.6 million cars to foreign markets. Meanwhile, China exported 4.1 million vehicles.

Reflecting these trends, the Chinese shipbuilding company, CIMC Raffles Group, announced the delivery of the country’s first car-carrying vessel. The ship, capable of transporting up to 7,000 cars, was leased by BYD Co. and will make its maiden voyage to Europe.

Read also: Ukrainians’ demand for electric cars from China is growing

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Read the original article on The New Voice of Ukraine