The Beijing Auto Show, China’s largest auto exhibition, showcased an array of new electric vehicles (EVs) from both domestic and international automakers. The event highlighted China’s transition to an all-electric automotive market, with automakers unveiling 117 new models and 278 NEVs, aligning with the recent milestone of NEV sales surpassing 50% in China. Foreign automakers also announced plans to invest in local production and research to keep pace with the electric shift.
Within a month of its launch in late March, Chinese smartphone giant Xiaomi has secured over 75,000 orders for its SU7 electric sedan. The company’s founder, Lei Jun, announced the milestone during the Beijing auto show, setting a record for electric vehicle (EV) startups. Xiaomi aims to deliver over 10,000 units in June and targets more than 100,000 deliveries for the SU7 in 2024. To meet the demand, the company has brought forward deliveries of different SU7 models. The SU7’s competitive pricing, inspired by Porsche styling and undercutting Tesla’s Model 3, has sparked an EV price war in China. Xiaomi’s auto team of 6,000 is actively recruiting global talent to support its ambitious car-making plans.
Chinese EV maker BYD is expanding its premium Denza brand with the introduction of a new sedan at the Beijing auto show. The Denza Z9GT will take on established luxury brands like Mercedes-Benz, which had previously withdrawn from the brand’s development. Despite a saturated domestic market and global scrutiny of Chinese EVs, BYD believes that technology will define luxury in the electric vehicle space.
BYD, China’s leading electric vehicle manufacturer, is expanding its portfolio with the introduction of the Ocean-M electric hatchback. This highly anticipated model will be based on a new pure electric platform, offering a glimpse into the future of EV design. With a focus on performance and affordability, the Ocean-M aims to redefine the electric hatchback segment.
