Auto China 2024 held in Beijing from April 25th to May 4th is gaining global traction. [Photo/China Economic Net]
BEIJING, Apr. 27 (China Economic Net) – Record-breaking batteries that can power up to 1000km range, world's first hydrogen-fueled extended range vehicles, industry's first neural network-based planning/control large model... an assortment of disruptive technologies dazzle visitors' eye at the ongoing international auto exhibition held in Beijing.
Delegation of European American Chamber of Commerce & Industry arriving for auto parts buyers matchmaking conference [Photo/China Economic Net]
“The amount of innovation in China is driving global cooperation and pushing the auto industry forward”, a Global Product Manager of the Germany-based Casco Automotive Group told China Economic Net (CEN) at the biennial auto exhibition.
Themed “Driving to smart mobility”, the grand event witnesses the display of 117 global premieres, 41 concept vehicles, and 278 types of NEVs this year. The auto parts zone alone has gathered nearly 500 companies from 13 countries.
NEVs, unsurprisingly, took the center stage. Over 60% of the debut cars globally are powered by green energy, amid China’s rapid, committed transition to greener economy. In the first half of April, over half of passenger vehicles sold in China were NEVs, surpassing conventional fuel vehicles for the first time.
“The world has been waking up to the fact that not only are the Chinese brands coming, but they are expanding very quickly and getting somewhere where consumers are turning their preference to them”, Johan Annell, Partner and General Manager Beijing of advisory firm ARC Group.
As per the projection of CMC Auto Import& Export, over 40% of the vehicles exported from China would be NEVs in 2024 with the total auto exports up by 15%-20% to 6 million units.
“Looking forward, there is a lot left in the US and Europe to increase adoption. In the emerging markets, too, some are leapfrogging”, Johan Annell said, adding that Southeast Asia could be the next top destination for auto investment and cooperation.
A London-based anonymous auto designer for a China-UK joint venture told CEN that the competence of Chinese brands is making the European markets and the manufacturers wake up and go for higher quality and lower prices. The bar shouldn’t be lowered in the name of anti-subsidy probe to meet everyone else’s.
“In the last few years, emerging Chinese brands like Neo, BYD, XPeng, etc. are reaching international levels and even higher. We have to really think our standards need to go up as well”, he said.
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