Shanghai sees strong exports of new energy products in Q1

SHANGHAI - Exports of new energy products, including electric vehicles, lithium-ion batteries, solar cells, handled by the Shanghai Customs posted strong growth in the first quarter of 2023, the customs said on Tuesday.

From January to March, 147,000 electric automobiles were exported, with a value of 33.88 billion yuan ($4.89 billion), up 34.9 percent and 77.6 percent, respectively, over the same period last year.

Exports of lithium-ion batteries and solar cells rose 133.5 percent and 27 percent year on year to 35.02 billion yuan and 35 billion yuan, respectively.

The strong performance of exports reflects the optimization of the export commodity structure in Shanghai and the active participation of related "Made in China" commodities in the global energy demand transformation.

Exports of new energy vehicles is becoming a new driving force for auto exports in the Yangtze River Delta region, which will affect the layout of Chinese automobiles in the global industry chain and bring new opportunities for Sino-foreign cooperations, according to the Shanghai Customs.