Thanks to massive deposits of critical materials, China has managed to become the world’s largest producer of electric cars, prompting the EU and the U.S. to put up tariffs and trade barriers to protect their car markets from more affordable Chinese EVs.
However, by concentrating all their attention on one field, legacy automakers and regulators didn’t anticipate another trend beginning to reshape car markets around the world, as China is quickly increasing its exports of gasoline-powered cars, especially to emerging and second-tier economies, according to Reuters.
The rapid growth of electric vehicles in China has led to much lower demand for traditional petrol cars at home. Because of this, many Chinese automakers are now sending large numbers of unsold gasoline vehicles to overseas markets, including Eastern Europe, Latin America, Africa and Southeast Asia.
Thanks to attractive designs, relatively low prices, a wide range of features and active marketing, Chinese gasoline cars have quietly gained popularity in many parts of the world. As a result, these vehicles now make up most of China’s auto exports, driven by strong demand for traditional combustion-engine cars in regions where charging stations are still rare.
For example, state-backed Chinese automakers like SAIC Motor, Dongfeng and Chery are now major players in many foreign markets, including Russia and Central Asia. Another Chinese brand that is gradually expanding its presence is BYD, which continues to push EVs globally.
