- Greenland aims to achieve annual exports of 100,000 NEVs over the next three years.
- It signed its first export order, totaling 5,000 vehicles and valued at about $70 million.
Chinese real estate giant Greenland Holding Group has established a new subsidiary to capitalize on the opportunities presented by the growth in exports of new energy vehicles (NEVs) from China.
The Shanghai-based real estate developer today announced the formation of a unit dedicated to the export of NEVs and the signing of the first export order.
The order, totaling 5,000 vehicles and about $70 million, features popular models that will be sold to West Asia, the Middle East and other regions, Greenland said in an announcement.
The move is aimed at creating a NEV export platform at the RMB 10 billion ($1.4 billion) level and promoting Chinese NEVs to the world, it said.
It is also an important manifestation of the company's quest to transform itself and explore new growth points, the statement said.
Greenland aims to achieve annual exports of 100,000 vehicles and annual sales of more than RMB 10 billion in the next three years, it said.
For the full year of 2024, China sold 12.87 million NEVs, contributing 40.9 percent of all vehicle sales of 31.44 million, according to the China Association of Automobile Manufacturers (CAAM).
China exported 1.28 million NEVs in 2024, up 6.7 percent year-on-year.
Going forward, there is still plenty of room for China's NEV exports to continue to grow at a fast rate, Greenland said.
($1 = RMB 7.2718)
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