Photo: Chen Shuo/Xinhua/AFP
Eurasia
06/10/2025 15:26
As China pushes down the cost of technologies such as solar panels, wind turbines and lithium batteries, sales are soaring across Southeast Asia, Latin America and Africa. “Demand for clean technologies continues to skyrocket as more countries seek their benefits, from low-cost power to cheaper vehicles,” Ember analyst Euan Graham said, according to South China Morning Post.
Developing countries are playing a crucial role in the boom: 51 per cent of growth in China’s electric vehicle (EV) exports this year came from nations outside the OECD. Exports to ASEAN states rose 75 per cent in the first eight months of 2025, with Indonesia recording the largest increase globally, becoming China’s ninth-largest EV market.
China’s EV exports to Africa nearly tripled, driven by Morocco and a six-fold surge to Nigeria. Shipments to the Middle East rose by 72 per cent, while Latin America and the Caribbean saw an 11 per cent increase.
“The surge in export value is especially remarkable considering the steep drop in technology prices,” Ember noted. Over the past decade, solar panel prices have fallen by more than 80 per cent. In August alone, China exported 46 gigawatts of solar PV equipment—exceeding Australia’s total installed capacity. Yet the value of those exports was 47 per cent lower than in March 2023, a result of intense price competition in China’s solar industry.
Lithium battery prices also plunged, from nearly US$500 per kilowatt hour in 2014 to below US$100 in 2024. With solar panels remaining cheap, EVs and batteries have become the main drivers of export value: during January–August 2025, their exports rose by 26 per cent and 23 per cent respectively.
Ember concluded: “China’s electrotech is becoming the basis of the new energy system, with continued cost reductions driving faster growth than ever, especially in emerging economies.”
