China pioneers the electric car trend

According to many experts, China accounts for the most important stages in the electric vehicle supply chain. With batteries, the second most important part in electric vehicles, China contributes up to three-quarters of the global supply of electric vehicle battery production capacity.

The new energy car market is the hottest topic of news reports and analysis from the world-class 2023 Shanghai Auto Show, which closes in the middle of this week.

Of the 271 new NEV models on display, Chinese domestic automakers accounted for more than two-thirds. Xinhua news agency has an article “China leads the trend of the global auto industry”.

Volkswagen AG President Oliver Blume said that with its high level of innovation, China has taken an important step forward for the entire auto industry. According to Chau Man Hao, leader of the Shanghai Trade Promotion Council, in the past, the luxury car booth was the most crowded place at the auto show. However, the area that attracts the most right now is the exhibition area of ​​Chinese car companies.

There are two revolutions happening in the automotive world: electrification and autonomous driving and driver assistance, said Francois Marion, vice president of communications for French carmaker Valeo. China is at the forefront of both of these revolutions.

Chinese electric car manufacturers are reaching out to conquer foreign markets, with the advantage of modern designs, rich features and low prices. China Daily has an article “Many Chinese car manufacturers aim to enter the European market”.

(Photo: Auto Shanghai)

Spiros Fotinos, CEO of Zeekr car brand in Europe, is confident about China Geely Group’s Zeekr for providing world-class vehicles, innovative services and exceptional experiences. European consumers are increasingly ready to switch to electric vehicles and are more open than ever to new technology brands.

In 2022, China exported more than 3.11 million vehicles, overtaking Germany to become the world’s second-largest auto exporter. In the first quarter of 2023, China exported more than 990,000 cars, up 70.6% over the same period in 2022.

Featured at the Shanghai Auto show is BYD’s Seagull electric car. The Seagull brand has attracted special attention, especially the revealed price is only about 11,000 USD (about 250 million VND), equal to 1/4 the price of popular cars in Europe, within 30 minutes of charging 30 minutes. % to 80% battery.

According to data for the first quarter of 2023, the Chinese government exempted new energy vehicles from tax, up 36% over the same period. In the first three months of this year, the tax-free amount for new energy vehicles amounted to 21.2 billion yuan, or $3.1 billion. According to a recent report, domestic NEVs are expected to account for nearly 80% of the Chinese market this year thanks to advanced technology and rising demand for high-quality vehicles.

Among the top 10 best-selling new energy car brands in the first quarter in the billion-people market, there are 8 Chinese brands, led by BYD with 38.8% market share.