The 2024 Beijing International Automotive Exhibition, better known as the Beijing Auto Show, concluded this Saturday after a spectacular 10-day run that attracted over 892,000 visitors. Showcasing nearly 1,000 exhibits, the event highlighted China’s rapid advancement in the new energy vehicle (NEV) sector, cementing its position as a global leader in the automotive industry.
This year’s auto show witnessed a remarkable 70 percent increase in NEV appearances compared to the previous event, featuring an impressive 278 models. The surge reflects China’s booming NEV market, where sales hit a milestone in early April, accounting for over 50 percent of all cars sold in the country—the world’s largest and most competitive auto market.
Multinational carmakers at the exhibition acknowledged the vast opportunities presented by China’s NEV expansion. William Li, founder and CEO of Chinese EV maker Nio, remarked, “At the Beijing auto show, there’s no doubt there is no interest in gasoline vehicles anymore. Everyone is looking for the latest technologies in intelligence and electrification.”
A new report from the International Energy Agency (IEA) further underscores the global shift towards electric vehicles. The IEA forecasts that more than 20 percent of cars sold worldwide this year will be electric, with demand expected to surge over the next decade. This trend is poised to substantially reduce oil consumption in road transport, marking a significant step towards global sustainability goals.
The success of the 2024 Beijing Auto Show not only highlights China’s NEV market prowess but also signals a transformative period for the global automotive landscape. As innovation accelerates and consumer interest shifts decidedly towards electrification, industry stakeholders worldwide are paying close attention to China’s strategies and advancements in this dynamic field.
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Beijing Auto Show revs up global confidence in Chinese NEV market
cgtn.com
