China - Dateline : Recent

Storyline:
Chinese NEVs take center stage at Auto China 2024

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This year's Auto China, also known as the Beijing Auto Show, serves as a testament to China's leading position in the New Energy Vehicles market. With a strong focus on NEVs, Chinese carmakers are driving competition and pushing the boundaries of what electric vehicles can offer.

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Zhao Changjiang, General Manager, Denza:

"Our vehicle boasts core technologies that are globally leading, featuring a tri-motor system. Additionally, it incorporates our proprietary technology of independent rear-wheel steering. With the integration of our smart electrification platform, our vehicle has become versatile and safe. These features are welcomed by customers worldwide."

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Gu Huinan, General Manager, GAC Aion New Energy Automobile:

"There's a multitude of paths to explore, with ongoing technological iterations in both battery and battery swapping technologies. These advancements offer significant opportunities for enhancing efficiency and increasing production capacity. We're actively promoting both avenues to propel the NEV market towards a more efficient production landscape."

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Behind the glitz and glamour of the Beijing Auto Show lies a deeper narrative of the Chinese NEV market's trajectory. In recent years, China has emerged as the world's largest market for electric vehicles. As demand for the vehicles remains strong, claims have increased about an alleged overcapacity issue in Chinese NEV production.

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Joachim Fetzer, CTO, Marelli Group:

"First of all, China market is very competitive, very fast, very innovation oriented and very technology-driven. These are my observation. Technology is driving new user experience, but also driving efficiency."

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Simon Yang, President, Aptiv China and Asia Pacific:

"What we are doing right now, actually, we are expanding our footprint here because the demand is here and we have to catch the market growth in China. China started to expand to export overseas, so the capacity increase, as the demands increase."

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Juergen Reers, Senior Managing Director, Accenture Global Industry Sector Lead, Automotive:

"It's very inspiring because the innovation of the Chinese NEV players, but also the international players here. So I think it's an open race. There's a lot of competition and I think it will drive a lot of innovation. Overcapacity is a challenge, has been a challenge for a long time in the automotive industry, and I expect also a consolidation."

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Chinese automakers are leveraging their expertise in manufacturing, scale, and technological innovation, and global counterparts must balance cooperation with a willingness to confront competition head-on, as the industry continues to evolve.

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