China's EV export boom fuels surge in demand for new car-carrying ships

Highland Gold Maple making syrup from Cape Breton woods for 25 years | SaltWire #capebreton #mapleBEIJING/SHANGHAI - Chinese automakers and shippers are ordering a record number of car-carrying vessels to support a boom in EV exports, data showed, putting China on course to amass the world's fourth-largest fleet by 2028.

The jump in orders has mostly benefited Chinese shipyards, which received 82% of orders globally, the data showed. Foreign peers such as Tesla and Volkswagen have also expanded production in China for export to take advantage of the country's cost-effective supply chain. The government said the focus on capacity is misguided and that it understates innovation and overstates the role of state support in driving growth.

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