As one of the largest automobile exhibitions in the world this year, the 2024 (18th) Beijing International Automotive Exhibition (hereinafter referred to as "Auto China 2024"), themed "Driving to Smart Mobility", will be held from April 25 to May 4 at the China International Exhibition Center Shunyi Hall and Chaoyang Hall in Beijing. Under the global trend of new energy and intelligent vehicles, mainstream international and domestic automakers will showcase their new technologies and products at this auto show. Among them, exhibitors from countries such as Germany and France have given positive evaluations of the Chinese automotive market, emphasizing localization strategies such as "In China, For China" and firm and continuous investment in China.
Concentrated Debut of New Industry Technologies
The Beijing International Automotive Exhibition has been held in Beijing every other year since its inception in 1990. This year's Beijing auto show has attracted well-known automotive brands from both China and abroad to exhibit with new products at a high level. According to the organizing committee, there are 117 global debuts, 41 concept cars, and 278 new energy vehicles at the auto show.
The International Energy Agency released a report titled "Global EV Outlook 2024" on April 23, showing that global sales of new energy electric vehicles are expected to continue to rise, reaching about 17 million in 2024, accounting for more than one-fifth of global automobile sales. According to the report, global electric vehicle sales in 2023 were close to 14 million, accounting for 18% of total sales, compared to 14% in 2022.
In the context of the declining popularity of traditional fuel vehicles, the field of intelligent new energy vehicles will become a battleground for Chinese and foreign automakers at this Beijing auto show. It is reported that German automakers BMW, Mercedes-Benz, and Volkswagen will showcase their latest intelligent new energy models such as the BMW Vision Neue Klasse, Mercedes-Benz CLA-Class Concept, and Audi Q6L e-tron at the auto show. Japanese automakers such as Toyota, Nissan, and Honda will also make their China debuts with multiple intelligent new energy vehicles, as well as new models developed in partnership with Chinese joint venture partners such as FAW, Dongfeng, and GAC. However, while American automakers General Motors and Ford are exhibiting, Tesla has confirmed its absence from this Beijing auto show.
On the Chinese automaker side, several intelligent new energy vehicle brands are making a strong debut. Among them, brands such as Ideal Automobile, Huawei's Hongmeng Zhixing, Xiaomi Automobile, Chang'an Automobile's Avita, SAIC's Zhiji Automobile, GAC's Aion LX, and BYD's Yangwang will make their debuts at the Beijing auto show.
According to data from the China Passenger Car Association, in the first half of April 2024, the retail penetration rate of new energy passenger vehicles in China exceeded 50% for the first time. BYD Chairman Wang Chuanfu believes that the new energy vehicle industry is currently in a critical period of quantitative to qualitative change, and China's new energy vehicle reform progress is continuously deepening, breaking through the iteration threshold.
Industry Leaders Bet on China's Intelligent New Energy Vehicle Market
"Recently, there have been rumors that Baidu has given up on its L2 intelligent driving business. I want to clarify that not only have we not given up, but we also want to do better. Our strategy of insisting on being a 'technical partner' for automakers' intelligence has never changed." At a smart car product launch event on the eve of the Beijing auto show, Wang Yunpeng, Vice President of Baidu Group and President of the Intelligent Driving Business Group, told reporters that new energy is the first half, and intelligence is the second half. In the future, good intelligent driving can become a reliable "good driver."
As representatives of Chinese technology companies, Huawei and Xiaomi have already entered the market. Huawei will exhibit all models developed in partnership with Seres and Chery at the Hongmeng Zhixing booth of the Beijing auto show. "Huawei's smart car selection business has been around for three years," said Yu Chengdong, Executive Director of Huawei, CEO of Terminal BG, and Chairman of the Smart Car Solution BU. Huawei Hongmeng Zhixing has four automaker partners, including Wenjie, which cooperates with Seres, Zhijie, which cooperates with Chery, and will soon launch Xiangjie, which cooperates with BAIC. "The product developed with JAC Motors is still on the way."
Yu Chengdong revealed that the first product of Huawei's cooperation with BAIC is named Xiangjie S9, positioned as Huawei's first executive-level luxury sedan, a D-class car that directly competes with D-class cars from international brands such as Mercedes-Benz, BMW, and Audi.
"Many quasi-car owners have found that the estimated delivery time has been advanced." Lei Jun, Chairman of the Xiaomi Group, who is participating in the Beijing auto show for the first time with a new car, said that the production capacity and delivery speed of Xiaomi SU7 are rapidly improving, and the standard version and Max have been delivered ahead of schedule. At the Beijing auto show, Xiaomi will introduce its intelligent new energy vehicle production capacity and delivery plan in detail.
On the evening of April 24, BMW Group Chairman Zipse said in Beijing that electrification, digitization, and sustainable development are currently major trends in the automotive industry. BMW Group's goal is to achieve electric vehicle sales accounting for more than 50% by 2030. "China is where the future lies and is also BMW Group's largest market in the world. We are fully confident in the prospects of the Chinese market and are firmly committed to continuously investing in China to make greater contributions to deepening Sino-German cooperation." Zipse said.
Oliver Blume, Chairman of the Management Board of Volkswagen Group, said that China is the engine of global automotive industry development. Volkswagen Group is committed to deepening its roots in the Chinese market. "As the international automaker with the highest sales volume in the Chinese market, we are starting a long-distance race to transform the automotive industry with a strong market position as a starting point. Our goal is clear, and we are committed to continuing to be the leader among international automakers in China. To this end, we are working with local partners to accelerate innovation, and fully demonstrate our innovative strength during the auto show, putting the 'In China, For China' strategy into practice."
