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4 Feb 2024

China Overtakes Japan as Top Car Exporter

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In 2022, China's annual auto exports reached 4.9 million units, [surpassing Japan's 4.43 million](https://www.semafor.com/newsletter/01/31/2024/semafor-flagship-just-wacky-enough?utm_source=nowshare&utm_medium=flagship+asia&utm_campaign=flagshipnumbered5#f), to become the world's leading car exporter, largely thanks to its electric vehicle (EV) boom. One-third of China's car exports were fully electric, with BYD leading as the world's largest EV maker in 2023. This surge in demand has led Chinese auto companies to consider building factories closer to international markets, mirroring Japanese expansion strategies from the 1980s.