Name: China Is Now the World’s Top Car Exporter: How the Russia-Ukraine War Helped | WSJ
Uploaded: 2023-08-02T20:48:55.000Z
Duration: 4 min 36 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

- [Narrator] In 2019, this new BMW marked the start

of a new production in a car plants in Western Russia.

Today, it is Chinese cars coming off the assembly line.

The factory produced tens of thousands of vehicles

As international sanctions prompted foreign automakers

to leave the country, Chinese brands filled the void,

they're finding an opportunistic moment when it comes

- [Narrator] Here's how Chinese car makers are profiting

from the Western corporate exodus and what it means

Car making is one of Russia's main industries.

- The first Renault created for the Russian market.

- [Narrator] Foreign automakers opened factories

and Russians eagerly embraced foreign cars

with Japanese, Korean, and European brands

But Moscow's invasion of Ukraine hit the industry hard.

Western sanctions cut off Russia's access

to global supply chains for essential parts

prompting many foreign brands to halt production

Soaring inflation and uncertainty contributed

to a dramatic drop in car sales in the country last year.

But assembly lines didn't stay idle for long.

Demands started to pick up as Chinese brands stepped in.

For example, this showroom outside Moscow

Russian buyers became more familiar with Chinese cars.

By mid 2023, the list of the 10 most popular car brands

in Russia looked very different to before the war.

This year, Russia became the number one buyer

of Chinese vehicles, spending some $6 billion

helping China to become the world's largest auto exporter.

- The exports to Russia have got an outsize importance,

especially for the car makers who have struggled

Within China, the sales of petroleum-powered vehicles

have dropped, so they now have some excess capacity

and Russia presents a good opportunity for these car makers.

- [Narrator] But Russia's markets also poses challenges.

- As Chinese car brands become more mature,

I think a lot of them are seriously considering the prospect

of one day become the world's biggest auto manufacturer.

- [Narrator] Chinese automakers are also not immune

to the bad publicity that comes with working in Russia.

as a sponsor of war for continuing operations in Russia.

- Companies like Geely have multiple brands

and some of these brands are trying to explore

on the challenges related to its operations in Russia.

which now produces Chinese passenger cars,

didn't respond to a request for comments.

Chinese automakers expansion into the Russian market

highlights the ever closer ties between Beijing and Moscow.

However, the question is whether Chinese brands

are willing to keep taking the risks associated with Russia

Subtitles ListPlay Video

China Is Now the World’s Top Car Exporter: How the Russia-Ukraine War Helped | WSJ

immune

present

opportunity

strategy