• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»China auto show highlights intense electric car competition
Finance

China auto show highlights intense electric car competition

April 16, 2023No Comments6 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
China auto show highlights intense electric car competition
Share
Facebook Twitter LinkedIn Pinterest Email

SHANGHAI (AP) — Global and Chinese automakers plan to unveil more than a dozen new electric SUVs, sedans and muscle cars this week at the Shanghai auto show, their first full-scale sales event in four years in a market that has become a workshop for developing electrics, self-driving cars and other technology.

Automakers are competing to roll out faster, more luxurious, more feature-drenched electric vehicles in the technology’s biggest, most crowded market. The ruling Communist Party has invested billions of dollars in subsidies to buy an early lead in an emerging industry. Established global brands face intense competition from Chinese rivals.

For the first time since 2019, executives are flying in from the United States, Europe and Japan for the world’s biggest auto show after anti-virus curbs that blocked most travel into China were lifted in December. Auto shows in the industry’s biggest market went ahead during the pandemic, but on a smaller scale. Global brands were represented by employees of their China operations.

Drivers in the world’s biggest auto market bought 5.4 million pure-electric vehicles last year, or about two-thirds of the global total of 8 million, plus 1.5 million gasoline-electric hybrids. That was more than one-quarter of total auto sales of 23.6 million. This year’s EV sales are forecast to rise another 30%.

“Consumers lost interest in gasoline cars. That is the biggest challenge for foreign brands to compete in China,” said industry analyst John Zeng of LMC Automotive. “They are going to have to show their best EV products.”

Beijing is winding down government support and shifting the burden to automakers by requiring them to earn credits for EV sales. Manufacturers are pouring billions of dollars into developing models that can compete on price and features without subsidies. Many are forming partnerships to share soaring costs.

See also  China Infrastructure Pledges Falling Short in Southeast Asia, Report Claims

Auto Shanghai 2023 fills the cavernous Shanghai exhibition center, a 1.5 million-square-meter (16 million-square-foot) subcontinent of a building that is among the world’s biggest.

Volkswagen AG, the country’s top-selling brand, says it plans to display 28 models, half of them electrified. VW says it will debut its ID.7 limousine, which promises a 700-kilometer (435-mile) range on one charge.

China’s BYD Auto, which competes with Tesla Inc. for the title of world’s biggest-selling electric automaker, says it will display for the first time its U9 supercar from its luxury Yangwang brand. The automaker says the U9, with a 1 million yuan ($145,000) sticker price, can accelerate from zero to 100 kph (60 mph) in two neck-straining seconds.

China’s auto sales peaked in 2017 at 24.7 million but collapsed in 2020 to 20.2 million after dealerships closed as part of efforts to contain COVID-19. They are recovering but are yet to return to the pre-pandemic level.

The ruling party’s support for EV development is part of plans to gain wealth and global influence by transforming China into a creator of profitable technologies.

That campaign has strained relations with Washington and other trading partners, which are cutting off access to advanced processor chips used by makers of smartphones, electric cars and other high-tech products. China’s own foundries can supply low-end chips used in many cars but not processors for artificial intelligence and other advanced functions.

Sales of gasoline-electric hybrids and pure-electric vehicles rose 26.2% over a year ago in the first three months of 2023 to 1.6 million, according to the China Association of Auto Manufacturers. Sales of pure electrics rose 14.4% to 1.2 million while hybrids increased 75.1% to 433,000.

See also  Darktrace hires EY to review financial processes after short seller report

Tesla and some other brands cut prices by 5% to 15% starting in January after sales growth slowed, though to still-robust levels compared with the slack U.S. and European markets. That prompted warnings the squeeze on an industry with dozens of fledgling brands might force smaller automakers into mergers or out of business.

China also is, along with the United States, a leader in development of self-driving taxis and trucks.

Baidu Inc., best known as a search engine operator, is the most prominent among developers that also include Pony.ai. Geely Group, owner of Volvo Cars, Lotus and Polestar, has announced plans for satellite-linked autonomous vehicles. Network equipment maker Huawei Technologies Ltd. is working on self-driving mining and industrial vehicles.

Baidu and Pony.ai received China’s first licenses to offer autonomous ride-hailing services in Beijing with a safety driver aboard to take over in the event of an emergency in 2022. That came 18 months after Alphabet Inc.’s Waymo started driverless ride-hailing service in Phoenix, Arizona.

“We see very strong support from the government,” said Jason Low of Canalys.

At the auto show, Chinese brand Aito plans to display its new M5 SUV with autonomous technology developed in an alliance with Huawei Technologies Ltd. The telecom equipment maker is expanding into the auto and other industries after U.S. sanctions imposed in a feud with Beijing over technology crushed Huawei’s smartphone business.

China’s market is so huge that even brands whose strongest selling point is roaring, gasoline-powered engines are embracing electrics.

BMW AG says its whole vehicle lineup at Auto Shanghai will be electrified. The German sport luxury brand says it will unveil two new models, the i7 M70L and XM Red Label, and show its M760Le in China for the first time.

See also  From COVID-19 to Economic Stimulus: Why China Is Prone to Sudden Policy U-Turns

Italy’s Maserati, a Stellantis unit known for using high-performance Ferrari engines, plans to unveil its first electric SUV and says its electric sports car will get an Asia premiere.

Chinese luxury EV brand NIO Inc., which competes with Tesla at the premium end of the market, plans to display its latest SUV, the ES6. It promises a 610-kilometer (380-mile) range on one charge.

Mercedes Benz plans to unveil an electric SUV under its luxury Maybach brand and two SUVs. The company also has EV joint ventures with BYD Auto and Geely Group.

Toyota says it plans to unveil two new models in its bZ line of zero-emissions vehicles. Nissan plans to display its Max-Out electric convertible concept car. Honda is debuting a new prototype for its China-focused e:N electric brand.

Despite such investments, Western and Japanese brands need to be more aggressive about EV development to keep up with China’s rapid evolution, said LMC’s Zeng. He said many take too long to create models abroad without Chinese input.

“The model they bring to China lags behind Chinese models by three or four years in driving range and equipment,” Zeng said. “They have to learn to design and test cars in China for China.”

Auto CAR China Competition Electric highlights Intense show
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Trump’s Tariffs Trigger Turmoil In China As Country’s Economic Tailspin Intensifies Per New Data

May 6, 2025

American Manufacturers Overwhelmed With Orders After Trump’s Tariff Crackdown On China

May 5, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

What happened to Justin Verlander’s hand? Astros ace seen bleeding onto his pants against Yankees

August 6, 2023

More than $1M Raised for Daniel Penny on GiveSendGo

May 13, 2023

Marvel Fires Exec Who Pushed Disastrous Trans Agenda

March 29, 2023

What Causes Our Skin To Age? Inflammation A Likely Suspect

October 5, 2023
Don't Miss

How Smart Mattresses Improve Sleep Quality For Couples

Lifestyle May 9, 2025

Sharing a bed with your partner can be romantic… until it’s not. One of you…

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,111)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,628)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Heat Index At Iran Airport Hits 66 Degrees Celsius As Climate Scientist Warns Earth Will Become “Inferno”

July 17, 2023

Elon Musk’s X/Twitter Drops Headlines from Links as Ad Revenue Remains Dismal

October 6, 2023

Intel Rallies After Saying New Server Chips Will Come Sooner Than Expected

March 29, 2023
Popular Posts

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.