China hits new EV export record

China recorded a record high in electric vehicle exports during May, reaching a value of $9.2 billion, marking an increase of nearly 50% compared to the same period last year. This reflects China's enhanced competitiveness in the electric transport sector and the expansion of international markets, despite a decline in solar energy technology and photovoltaic panel exports by 51% and 16%, respectively. This growth occurs amid supply disruptions and rising oil prices, prompting many countries to accelerate their adoption of electric technologies to achieve cost savings and reduce dependency on fuel imports.

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