Rising Chinese EV Exports Amid Price Wars
In 2025, China’s full-electric vehicle exports surged 67% to a record 1.65 million units, while plug-in hybrids and extended-range EVs also increased significantly, more than tripling to 969,000 vehicles, according to the China Association of Automobile Manufacturers. This growth occurs as China’s automotive market grapples with a fierce domestic price war, impacting foreign automakers.
Tesla lost its position as the world’s largest EV seller, experiencing a 16% decline in fourth-quarter sales and a 9% drop for the full year. In contrast, BYD, another Chinese EV manufacturer, reported global sales of 2.26 million vehicles in 2025—an increase of 28% from 2024. As competition escalates, U.S. automakers like Ford are strategizing to lower production costs and improve efficiency, with Ford set to launch a new midsize electric truck priced around $30,000.
