Visitors look at the Honda Ye GT electric vehicle displayed at the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China on Apr 25, 2024.BEIJING — China's largest auto show opened in Beijing on Thursday with the biggest names showing off their latest electric vehicles , underlining how the world's largest auto market is already in an all-electric state of mind, and isn't looking back.
Sales have been getting a boost from a year-long price war that has sapped profit margins, as automakers strive to keep up by announcing newer, cheaper models and promotions. Crowds flooded the booths of Chinese manufacturers such as BYD and industry newcomer Xiaomi with the smartphone maker stealing the show by holding one of the earliest press events.
It also announced the Ocean-M, a sporty rear-wheel-drive hatchback priced 150,000 to 200,000 yuan that will be the first vehicle built on a new all-electric platform. The mid-sized car targets China's middle class and sells far below the price of mainstream EVs in North America and Europe. Tesla skipped the show again. Its last appearance was in 2021 when an unhappy customer clambered atop a Tesla being displayed to protest its handling of her complaints about brakes she said were malfunctioning.
A number of firms, such as Seres and Guangzhou Automobile Group which markets China's third-best-selling EV brand, touted systems supplied by Huawei Technologies whereas others like BYD and XPeng promoted features developed in-house.