As China becomes the world’s biggest auto exporter, BYD and its peers are moving into shipping.
The "BYD Explorer No. 1" car carrier loaded with new energy vehicles sets sail from Yantai Port in Yantai, Shandong province, China, January 10, 2024. Credit: CFOTO/Future Publishing via Getty Images
The crisis in the Red Sea is bringing uncertainty and additional costs for ships making the trip from China’s coastal provinces to the export markets of Europe. However, one vessel’s journey along this route in January was greeted with celebration: the maiden voyage of Chinese electric vehicle behemoth BYD’s first cargo ship.
The successful delivery of BYD Explorer No. 1 marks another milestone in the company’s quest for control over all levels of the automotive supply chain. With Chi
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Chinese-operated vessels regularly ply Taiwan’s waters and visit its ports, while one of Beijing’s state-owned enterprises operates berths at the island’s biggest harbor through a Hong Kong subsidiary. Both are national security risks that the...
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