Global automakers join China’s electric charge at Beijing Auto Show 2024

The grand stage of China’s largest auto show opened its doors on Thursday, showcasing the latest electric vehicles (EVs) from major players, signalling the nation’s steadfast move towards an all-electric future.

A flourishing EV market:

With 117 new models set to debut – an increase from the 93 showcased last year in Shanghai – and a total of 278 new energy vehicles (NEVs) on display, the event underscores China’s dominance in the electric vehicle sector. Recent data from auto associations revealed a significant milestone, with NEVs accounting for over 50% of car sales in China in early April.

“The Beijing auto show exemplifies the overwhelming shift away from gasoline vehicles. The focus is on cutting-edge technologies in intelligence and electrification,” William Li, founder and CEO of Chinese EV giant Nio told Reuters.

Embracing local brands:

Chinese manufacturers like BYD and newcomer Xiaomi captured the spotlight, with Xiaomi CEO Lei Jun announcing impressive pre-orders for their SU7 sedan. Notably, even owners of premium brands like BMW (BMWG.DE) and Audi have expressed interest in Xiaomi’s offerings.

BYD, renowned as the world’s largest EV maker, showcased its Yangwang and Denza premium brands, striving to redefine its image beyond a low-cost automaker. The unveiling of the Ocean-M, a sleek hatchback priced competitively at 150,000 to 200,000 yuan ($20,699 to $27,598), marks BYD’s foray into a new electric platform catering to China’s burgeoning middle class.

International participation:

Themed “Auto China 2024” or the “Beijing Auto Show,” this year’s event boasts the theme “New Era, New Cars,” drawing participation from both local and international brands. Volkswagen Group CEO Oliver Blume expressed the company’s commitment to innovation, emphasizing their role in shaping the automotive landscape.

Innovations and collaborations:

The exhibition also showcases 41 concept vehicles and highlights advancements in intelligent connectivity and new energy technologies. South Korean automaker Hyundai, in a bid to enhance its electrification competitiveness in China, inked a memorandum of understanding (MOU) with Contemporary Amperex Technology Co. (CATL) on the first day of the show.

Promoting sustainability and collaboration:

With nearly 500 domestic and overseas auto component companies and technology firms participating, the Beijing Auto Show serves as a pivotal platform for fostering international collaboration and advancing China’s automotive industry towards sustainable and high-quality development.

The Beijing Auto Show, held biennially since 1990, continues to shape the trajectory of the global automotive industry, reaffirming China’s position as a leader in electric mobility and innovation.

Read more on how Volkswagen plans to spend $2.7 bn in China for more electric vehicles