Chinese EV-maker BYD’s first chartered vehicle vessel has set sail from the southern city of Shenzhen carrying more than 5,000 electric vehicles to Europe.
Automakers including BYD, Chery Automobile and SAIC Motor have been placing orders for vessels to counter rising shipping costs as they boost exports.
The sailing also comes amid escalating attacks on shipping in the Red Sea by Iran-backed Houthi rebels retaliating over Israel’s Gaza campaign.
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The new roll-on/roll-off vehicle carrier named ‘BYD Explorer No1’ departed on Monday for Flushing Port in the Netherlands and the German port of Bremerhaven, state media Xinhua reported on Tuesday.
The vessel was built by Yantai CIMC Raffles Shipyard for Israeli shipping company Zodiac Maritime, Xinhua added.
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 units in 2023, with Australia, Brazil and Israel among its biggest overseas markets, data from the China Passenger Car Association showed.
- Reuters with additional editing by Sean O’Meara
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