QNB: China shifts to market-driven EV sector
Qatar National Bank (QNB) has affirmed that the current surge in Chinese electric vehicle exports reflects the success of its industrial strategy, but it also presents growth challenges as the sector exceeds the limits of the domestic market. The bank explained that the future of the market depends on China's ability to compete globally and to further integrate electric vehicles into the local market, especially as support policies shift toward managing excess production and improving efficiency. In 2025, China’s exports of new energy vehicles reached 2.62 million units, doubling the previous year, making China the world's largest exporter of cars. Growth is expected to continue into 2026, with exports nearing one million units in the first quarter alone, accounting for more than 40% of all vehicles exported. However, the domestic market faces a decline in demand due to reduced incentives, as China seeks to balance export expansion with sustainability by enhancing production quality and integrating more closely with the electricity grid by 2030.
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