278 types of NEVs on display at Beijing International Automotive Exhibition
The 18th Beijing International Automotive Exhibition is taking place in the capital of China from April 25th to May 4th, demonstrating 278 models of new energy vehicles (NEVs), thus indicating the importance of such trasnport for the auto industry, Xinhua reports
New energy vehicles are no longer uncommon on the streets of Chinese cities, which is confirmed by industry data.
According to the Chinese Passenger Car Association (CPCA), the new energy passenger car retail penetration rate exceeded 50 percent for the first time in the first half of April 2024, suggesting that one out of every two cars sold is a new energy vehicle. At the same time, over the past five years, the growth rate of this indicator has increased 10 times.
In 2024, the market share of NEVs in China is projected to range from 36 to 41 percent, compared with 31 percent last year.
Car manufacturers, as well as related companies presented their new products at prestigious motor show. For example, the leading Chinese battery manufacturer CATL has demonstrated a new battery, featuring a world-first innovation that offers a 1,000km range and supports ultra-fast charging. This breakthrough allows for a 600km range in just 10 minutes of charging.
