Chinese carmakers BYD, Chery chart 80% growth overseas as EV demand spikes

Leading Chinese carmakers like BYD and Chery Automobile are reaping rewards from their efforts to boost sales abroad, as they chase higher profitability amid rising demand for electric vehicles (EVs).Chery, which spearheaded the go-global drive among mainland China’s automotive groups and is the country’s largest car exporter, delivered three times as many cars overseas as at home last month.The state-owned company, based in eastern China’s Anhui province, handed 181,571 vehicles to customers outside the mainland in May, up 81 per cent from a year earlier. Overseas sales accounted for 73 per cent of its total sales for the month.