China's EV market growth takes centre stage at Beijing Auto Show
Electric vehicles made up about 25% of all auto sales in China last year, with hybrids expected to see growth.
image for illustrative purpose
Beijing: The Beijing auto show featured a strong focus on electric cars and digital connectivity, showcasing new models and concepts from global automakers and EV startups.
This highlighted China's growing importance as a major market and production hub for digitally connected, new-energy vehicles.
Toyota and Nissan announced collaborations with major Chinese technology firms to meet the increasing demand for AI-enabled online connectivity in cars.
Electric vehicles made up about 25% of all auto sales in China last year, with hybrids expected to see growth.
BYD unveiled two “dual-mode” plug-in cars, while Chery provided a balanced perspective, envisioning a future with a mix of fuel vehicles, hybrids, and electric cars.
Chinese automakers, including BYD and Chery, are expanding into overseas markets, particularly in Latin America and Europe, sparking concerns and discussions about potential tariffs in the EU due to government subsidies driving the growth of the EV industry.
The intense price competition in the EV market is anticipated to lead to industry consolidation.
For foreign players like Tesla, there is a pressing need to swiftly develop new electric car models to maintain competitiveness in China.
Automakers such as Nissan and Toyota are forming partnerships with Chinese tech firms to address the evolving market demands.
Volvo emphasized simplicity and utility in digitalization, catering to a diverse audience.
American brands like Ford also made their presence felt at the show, showcasing iconic models such as the Mustang and Bronco.
