Guotai Haitong: Oil prices stimulate overseas demand for new energy vehicles, positive outlook on the global expansion of domestic brands

Golden Ten Data reported on March 26 that a research report from Guotai Haitong Securities noted that during this round of oil price cycles, the economic advantages of HEV (hybrid electric vehicles), PHEV (plug-in hybrid electric vehicles), and BEV (battery electric vehicles) have expanded, which is expected to drive higher market penetration in regions with high oil prices and may present export opportunities for domestic brands. According to China Association of Automobile Manufacturers data, in January-February 2026, China's passenger car exports grew by 53.3% year-on-year, while new energy vehicle exports increased by about 110% year-on-year. With the global oil prices remaining high in March acting as a catalyst, the full-year export forecast for new energy vehicles is expected to be revised upwards. The report recommends focusing on core domestic brands with overseas exposure potential.