China’s two-wheelers ride EV wave into Europe

{"text":[[{"start":9.2,"text":"Surging oil prices triggered by the Iran war are giving a Chinese electric scooter maker its moment in the sun."}],[{"start":15.649999999999999,"text":"Yadea, the world’s largest producer of battery-powered scooters and motorcycles, has enjoyed a sales surge across south-east Asia and South America since the conflict began. The group’s overseas sales this year are tracking about 70 per cent higher than 2025. "}],[{"start":32.7,"text":"“The volume is rising in all these places,” Yadea’s senior vice-president Wang Jiazhong told the FT at its headquarters in Wuxi, eastern China. “Customers are asking if we can advance their orders — I need to speed up the shipments.”"}],[{"start":46.7,"text":"Higher oil prices stemming from the closure of the Strait of Hormuz have also prompted the Hong Kong-listed group to accelerate expansion efforts in the UK and Europe, targeting cities such as London and Paris."}],[{"start":59.75,"text":"“The situation in the Middle East presents a good opportunity for us to enter the market and guide consumers towards using our electric vehicles, as they can clearly feel how much fuel prices have increased,” Wang said."}],[{"start":71.05,"text":"Yadea is also emblematic of a broader wave of Chinese clean-technology manufacturers aggressively expanding overseas as domestic growth fades. "}],[{"start":80.5,"text":"In March the group said it was targeting overseas sales of 450,000 vehicles this year, up from 310,000. It plans to add as many as 10,000 sales points overseas in 2026, adding to its 3,700 sites. "}],[{"start":97.2,"text":"This may only be the tip of the iceberg. Battery-powered vehicles accounted for about 15 per cent of the global two-wheeler market last year, according to International Council on Clean Transportation data, highlighting the massive potential for global growth. "}],[{"start":null,"text":"

"}],[{"start":112.4,"text":"And for Yadea, overseas markets only accounted for about 2 per cent of sales last year. Management has told investors they expect overseas profitability to exceed that of the domestic market over the long run, according to Citi analysts. "}],[{"start":125.5,"text":"Yadea has six factories in China, where it has now sold about 100mn two-wheelers, as well as plants in Vietnam, Indonesia, Thailand, Turkey, Brazil and Mexico."}],[{"start":136.75,"text":"Wang said manufacturing in or near key foreign markets was necessary to avoid tariffs on Chinese exports. Yadea plans to build a factory in Hungary “as European demand increases”."}],[{"start":149.25,"text":"The overseas pivot marks a new chapter for the group’s husband-and-wife founders, Dong Jinggui and Qian Jinghong."}],[{"start":157.05,"text":"Dong, who was born in 1970 in a poor part of rural Anhui in eastern China, trained in motorcycle maintenance during his military service and later worked at a Wuxi motorcycle factory."}],[{"start":169.10000000000002,"text":"In the late 1990s the pair tried their hand at running a restaurant serving local workers fare such as noodles and braised pork. Qian later told local Chinese media that while the business was successful the strain of working from 4am to midnight caused her weight to drop below 40kg and she became unable to care for her newborn daughter."}],[{"start":191.75000000000003,"text":"They launched the motorcycle business in 1997 in Wuxi before expanding by taking over a rundown state-owned factory in northern China’s Tianjin. Like battery maker CATL and EV giant BYD, Yadea was among the companies that pivoted early to Beijing’s supportive policies for transport electrification."}],[{"start":212.35000000000002,"text":"There are about 300mn electric scooters in China, which Wang said averaged between 1.5 and 2 vehicles per household, while the declining population would limit growth. He said Yadea was still trying to increase its market share by upgrading its product range."}],[{"start":227.8,"text":"In overseas markets frequently hit by electricity supply shortages, Yadea is eyeing the potential to “build an entire ecosystem”, Wang said."}],[{"start":236.70000000000002,"text":"“In countries with power shortages, Africa for example, even charging mobile phones can be affected. I actually see this as an opportunity.”"}],[{"start":245.95000000000002,"text":"He said vehicles could serve as a backup for households. An electric scooter with a 4kWh battery “can supply power during outages — enough to run basic household appliances like a TV, refrigerator or charge phones.”"}],[{"start":264.55000000000007,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1778996511_7995.mp3"}