Cyprus Mail
BusinessInternational

BYD’s first chartered vessel sets sail with 5,000 EVs for Europe

electric vehicle car ev

BYD’s first chartered vehicle vessel has set sail from China’s southern city of Shenzhen, carrying more than 5,000 electric vehicles to Europe, state media Xinhua reported on Tuesday.

Chinese automakers including BYD, Chery Automobile (CHERY.UL) and SAIC Motor (600104.SS) have been placing orders for vessels to counter rising shipping costs as they boost exports.

The new roll-on, roll-off vehicle carrier named “BYD Explorer No.1” departed on Monday for Flushing Port in the Netherlands and the German port of Bremerhaven, Xinhua said.

The vessel was built by Yantai CIMC Raffles Shipyard for Zodiac Maritime, Xinhua added. Zodiac Maritime is a London-headquartered international ship-management company owned by Israel’s Ofer family.

China exported 5.2 million vehicles in 2023, estimated to have overtaken Japan as the world’s largest auto exporter.

BYD exported about 243,000 cars out of its total sales of 3 million vehicles in 2023, with Australia, Brazil and Israel among its biggest overseas markets, data from the China Passenger Car Association showed.

Follow the Cyprus Mail on Google News

Related Posts

Cypriot capital markets to benefit from EMTN dual-listing

Kyriacos Nicolaou

Greek economy surges after decade of pain

Reuters News Service

Ryanair expects to receive 40 Boeing planes by mid-July

Reuters News Service

Cyprus Business Now

Kyriacos Nicolaou

What are the implications of oil’s recent surge on global markets

Reuters News Service

UK house prices fall by least in eight months

Reuters News Service