Chinese real estate giant Greenland Holding Group has taken a significant step towards capitalizing on the growing trend of new energy vehicle (NEV) exports from China. The company recently announced the establishment of a new subsidiary dedicated to the export of NEVs, with a focus on popular models that will be sold in West Asia, the Middle East, and other regions.
Greenland’s first export order, totaling 5,000 vehicles and valued at approximately $70 million, marks a major milestone for the company in its venture into the NEV export market. This move is part of Greenland’s larger strategy to create a NEV export platform with a target revenue of RMB 10 billion ($1.4 billion) and to promote Chinese NEVs on a global scale.
With China’s NEV market witnessing substantial growth, Greenland aims to achieve annual exports of 100,000 vehicles and annual sales exceeding RMB 10 billion over the next three years. In 2024, China sold 12.87 million NEVs, contributing nearly 41% of the total vehicle sales of 31.44 million, according to the China Association of Automobile Manufacturers (CAAM). Furthermore, China exported 1.28 million NEVs in 2024, reflecting a 6.7% year-on-year increase.
Looking ahead, Greenland sees significant potential for continued growth in China’s NEV exports. The company’s foray into the NEV export market underscores its commitment to diversifying its business and exploring new avenues for growth. As the global demand for electric vehicles continues to rise, Greenland’s strategic focus on NEV exports positions the company to capitalize on this burgeoning market.
Overall, Greenland’s entry into the NEV export market represents a strategic move that aligns with the company’s vision for sustainable growth and expansion into new sectors. By leveraging its expertise and resources, Greenland is well-positioned to establish itself as a key player in the international NEV market and contribute to the global shift towards sustainable transportation solutions.
