Global car companies and electric vehicle startups recently showcased their new models and concepts at China’s biggest auto show. They’re focusing on China because it’s becoming a major market for cars that are connected to the internet and use new energy sources.
Toyota and Nissan announced partnerships with big Chinese tech companies to add features like social media apps and self-driving technology to their cars.
In China, electric vehicles made up about 25% of all car sales last year. Hybrid cars, which use both electricity and fuel, are also becoming more popular.
BYD, China’s largest electric vehicle maker, displayed two plug-in cars that can run on electricity or as hybrids. They also showed a hybrid off-road SUV from their luxury brand, Yangwang.
Meanwhile, Chery, another Chinese car maker, plans for a future with 40% fuel cars, 30% hybrids, and 30% electric cars.
Chinese car companies are expanding into other countries too. BYD is selling its affordable Dolphin Mini car in Latin America, and they’re building a factory in Brazil. Chinese cars are also gaining popularity in Mexico and Europe.
However, the growing number of electric car makers has led to a price war. This might result in some companies merging or going out of business in the future.
For foreign car companies like Volkswagen and Nissan, China’s fast-paced auto industry means they need to develop new electric cars quickly to compete.
Nissan is partnering with Baidu, a Chinese tech company, to keep up with the changing market. Toyota is teaming up with Tencent, the company behind WeChat.
Volvo, a Swedish brand owned by a Chinese company, is focusing on making their cars easy to use and environmentally friendly.
American car brands like Ford, Lincoln, Cadillac, Buick, and Chevrolet also showcased their latest models at the auto show. Ford highlighted their iconic Mustang and Bronco models.
