The report cites data from the International Energy Agency showing that in the first half of 2026, China's electric vehicle exports increased by 120% year-on-year. The report argues that Chinese automakers have established a strong competitive advantage in the global electric vehicle market, particularly in emerging markets. Currently, Chinese automakers account for approximately 60% of electric vehicle sales in emerging markets.

The brand awareness of Chinese cars in the European market is also continuously increasing. According to data from the European Automobile Manufacturers Association, in June of this year, five Chinese car brands—Geely, SAIC, BYD, Chery, and Leapmotor—accounted for 12.1% of new car registrations in the EU and the UK, significantly higher than the 7.7% in the same period last year.

In Southeast Asia, affected by high oil prices and energy security concerns, many countries are promoting the accelerated development of electric vehicles. The report notes that some Southeast Asian countries hope to reduce their dependence on imported gasoline by expanding the use of electric vehicles and have successively introduced preferential policies.

Thailand has already reduced the consumption tax on imported electric vehicles. Local media reported that, in line with energy-saving policies, the Thai Prime Minister recently replaced his car with a Chinese-brand electric vehicle.

Laos announced a suspension of imports of gasoline-powered vehicles for the remainder of this year; Cambodia also introduced incentives such as reduced tariffs on electric vehicles.

The report suggests that Chinese car brands have experienced rapid growth in Southeast Asia in recent years. PwC data shows that from 2023 to 2025, the average market share of new car sales by Chinese automakers in Malaysia, Indonesia, Thailand, Vietnam, the Philippines, and Singapore will increase from 4% to 11%.

▲Data from the International Energy Agency shows that electric vehicle sales have increased significantly in many countries this year.

The report believes that with rising oil prices, in countries with relatively low car ownership rates, more competitively priced Chinese electric vehicles are becoming the choice for more consumers buying their first car. Some consumers may even skip gasoline-powered cars altogether and choose electric vehicles directly.

This trend is expected to expand further in the future. The report states that emerging markets are projected to account for approximately 60% of global car demand over the next decade. As the global automotive consumption center further shifts to emerging markets, Chinese electric vehicles are expected to gain greater development space in the global market due to their price, industrial chain, and product competitiveness.