Chinese carmakers are buying their own ships to keep their factories running. CarGuidePH
Despite the surge in auto exports, the number of car carriers globally has barely increased. This has resulted in the skyrocketing of shipping costs.
The shortage also means that some vessels—almost 30 years old—are still operating instead of being scrapped, raising the risk of accidents. Trying to extinguish any lithium-ion battery fires in electric vehicles that occur may also be harder. However, it’s a telling sign of how far Chinese automakers’ export ambitions go. Just a few years ago, China was mainly selling cars to developing nations in Africa and the Middle East. But the rise in electric-vehicle production has boosted made-in-China cars, particularly in Europe, which is now the biggest market for Chinese auto exports.
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