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Automakers showcase new NEV models at Chinese auto show as demand surges

The Chengdu Motor Show starts in southwest China’s Chengdu city on August 29, 2021. /CDMS 2021

The Chengdu Motor Show starts in southwest China’s Chengdu city on August 29, 2021. /CDMS 2021

Automakers around the world showcased their latest New Energy Vehicles (NEVs) at the 2021 Chengdu Motor Show (CDMS 2021), which kicked off in the southwest Chinese city of Chengdu on Sunday.

Now in its 24th edition, the auto show has attracted more than 130 renowned automotive brands from Germany, the United States, France, Japan and South Korea, as well as joint ventures and own brands. About 1,600 vehicles are exhibited on a total exhibition area of ​​200,000 square meters.

According to Gary Liu, general manager of Hannover Milano Fairs Shanghai Ltd. and organizer of the event, the event will not only stimulate the domestic automobile market, but also ensure that exhibitors can execute their strategic plans smoothly.

“Thanks to the stable macroeconomic environment, multi-pronged measures stimulating and unleashing demand, and booming segmented markets, China’s auto market will rebound by the end of 2021,” Liu told CGTN. .

SAIC Volkswagen, a joint venture between Shanghai Automotive Industry Corporation and Volkswagen Group, displays new models at the Chengdu Motor Show in southwest China’s Chengdu city, Aug 29, 2021. / CDMS 2021

SAIC Volkswagen, a joint venture between Shanghai Automotive Industry Corporation and Volkswagen Group, displays new models at the Chengdu Motor Show in southwest China’s Chengdu city, Aug 29, 2021. / CDMS 2021

The growth rate of passenger car sales in China is expected to reach 10% in 2021, with NEV sales exceeding 2 million, a record high or a 46% year-on-year increase, according to the China Association of Automobile Manufacturers.

In June this year, the association adjusted overall domestic auto market sales growth to 6.5%, from 4% previously forecast.

The organizer pointed out that despite the pandemic-induced impacts, the pace of automotive modernization is actually accelerating. Based on market feedback, the organizer said the development cycle for an all-new model has been shortened from about four years to between one and three years, and for modification, from six to 24 months to between four and 15 months.

BMW showcases new models at the Chengdu Motor Show in southwest China’s Chengdu city, Aug. 29, 2021. /CDMS 2021

BMW showcases new models at the Chengdu Motor Show in southwest China’s Chengdu city, Aug. 29, 2021. /CDMS 2021

This year, the NEV market has experienced high-speed growth driven by new products. At CDMS 2021, the proportion of NEV exhibitors has increased compared to last year’s single hall. NEVs can be seen in all exhibition halls, including Hall 10, the base camp of the NEV brands.

In this racing lane, new auto manufacturing powerhouses, including NIO and Xpeng, are coming together for the first time on a large scale alongside the NEV brands of conventional automakers.

Audi China showcases new models at the Chengdu Motor Show in southwest China’s Chengdu city, Aug. 29, 2021. /CDMS 2021

Audi China showcases new models at the Chengdu Motor Show in southwest China’s Chengdu city, Aug. 29, 2021. /CDMS 2021

As automobiles become electrified, intelligent and internet-based for sharing, cross-industry collaboration has become a new norm in the development of the automotive industry. Traces of automakers joining with internet partners to create smart travel plans and solutions can be found on CDMS.

CDMS 2021 opens to industry professionals on August 30 and 31. From September 1 to 7, it will be open to the public.

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