China’s new energy automakers showcase smart mobility
SHANGHAI: There was a collision at the 2024 Beijing International Automotive Exhibition: innovation and progress.
Throngs of energetic visitors appeared to feed off the powerful, colourful, shapely beasts on display, whose engines’ horsepower specs and other tech details showcased the rapid strides made by the auto industry, especially its electric vehicle (EV) sector.
The expo was testimony to the world’s largest auto market that is fully embracing a high-tech and green future.
Even a decade ago, car expos were known to attract visitors, especially males, as much for their latest vehicle models as for the female models that heightened the event’s glamour and oomph.
Not anymore. The focus has shifted to the titans of industry.
Media cameras now chase visionary entrepreneurs such as Xiaomi chief executive officer Lei Jun, new energy vehicle (NEV) startup Li Auto CEO Li Xiang and Nio CEO Li Bin.
Their endeavours have been driving China’s NEV sector, which is known for innovation.
At the sprawling exhibition halls, one sensed a pattern emerging, reflecting the accelerated pace of China’s automotive prowess. Between 2020, when the exhibition was last held, and this year, a remarkable transformation has taken place, with Chinese carmakers ramping up efforts to catch up with their foreign counterparts.
Homegrown brands like BYD, Great Wall Motor and Xpeng hired vast exhibition spaces to showcase a diverse range of NEVS.
Themed “Driving to Smart Mobility”, the recently 10-day expo drew nearly 900,000 visitors with its sheer scale and innovation. Automakers unveiled 117 new models, while 278 NEVS were put on display.
The show came as NEV sales hit a milestone in the first half of April, accounting for more than 50% of cars sold in the country, according to the China Automobile Dealers Association.
During the January to March period, China’s production and sales of new energy vehicles reached 2.12 million units and 2.09 million units, respectively, reporting growth of 28.2% and 31.8% year-on-year.
NEV sales accounted for over 30% of cars sold in China in the first quarter, according to the China Association of Automobile Manufacturers showed.
Xiao Xinjian, director of Research Department II of the Xi Jinping Thought on Economy Study Centre, said China’s burgeoning NEV sector enjoys huge growth potential, effectively driving the nation’s green transition and providing the world with China’s solution for green and low-carbon development.
Xiao noted that China’s edge in the NEV sector is powered by market forces, especially sufficient market competition, expressing optimism and confidence about the sector’s future growth prospects.
According to a report by the International Energy Agency, global EV sales are estimated to reach 45 million units in 2030, more than triple the global sales in 2023 and 4.5 times those in 2022.
Xiao dismissed the allegation by some Western countries that China’s green industries are hammering global industrial chains with “overcapacity”, and added that “the capacity utilisation rates of China’s large NEV makers stand at a reasonable level of around 80% to 82%”.
“The robust growth of China’s new energy vehicle industry has met the global demand for quality products, contributing to global efforts to address climate change and build a green and low-carbon system,” Xiao said. — China Daily/ann
According to a report by the International Energy Agency, global EV sales are estimated to reach 45 million units in 2030, more than triple the global sales in 2023 and 4.5 times those in 2022.