Electric vehicles, the stars of the Shanghai auto show
More than 100 new cars made their global debut at the Shanghai auto show. Global automakers, including Toyota and Volkswagen, took the stage.
Global carmakers unveil more than 150 new models at the 20th Shanghai International Automobile Industry Exhibition – the biggest international auto show to be held worldwide so far this year. Famous car manufacturers took the stage with built-for-China and electric-drive products to compete for a high-stakes comeback in the world’s largest market.
Volkswagen announced during the Shanghai auto show that it would introduce 10 more electric vehicle models by 2026 and cut the time to develop new models by almost 40 per cent to keep pace with faster-moving Chinese rivals. “Our guiding principle is development in China for China at full speed,” Thomas Schafer, chief executive of VW passenger car brands said. Moreover, the German carmaker Volkswagen said it would invest one billion euros ($1.1 billion) in a new development centre for electric vehicles in China, as the EV market proved a key battlefield for brands at the Shanghai Auto Show.
Toyota, which has been slower in rolling out electric vehicles, used the Shanghai show to unveil two new EVs, doubling the number on offer in China under its mainstream brand. It also introduced a Lexus-brand minivan, the “Luxury Mover,” a hybrid designed to be chauffeur driven, a preference for many Chinese luxury car buyers.
The general opinion of the Western car manufacturers is that whoever wins in China will be in pole position to win over the world. As Oliver Zipse, Board Chairman of BMW, said “What moves Chinese customers today will move the world tomorrow.”
