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20 April 2017, 09:17 | Maryann Sutton
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DOMESTIC manufacturers launched a host of new models at the Shanghai Auto Show yesterday, aiming to grab market share from better-known foreign brands in the world's biggest vehicle market.
"It's hard for someone with an EV to come and take away market share from SUVs", stated Ben Cavender of China Market Research Group.
Visitors may learn more about Dana's industry-leading solutions for electric and hybrid vehicles at Auto Shanghai this week in hall 4.2, stand 4BF001 of the National Exhibition and Convention Center.
But Hyundai and Kia suffered a 52 percent on-year decline in their combined vehicle sales last month in China at 72,032 units amid a diplomatic row over Seoul's decision to deploy a Terminal High Altitude Area Defense (THAAD) battery in South Korea within this year.
Global automakers unveiled new SUVs, electric vehicles, and futuristic concept cars at the Shanghai Auto Show on Wednesday, racing for an edge in the world's biggest auto market as growth slows after years of frenzied sales. The electric auto to be produced at the Luqiao factory is expected to reach the market in 2019.
Unable to afford a vehicle, Shanghai university student Long Yi faces a lengthy, expensive commute across his vast city but has found a solution in the car-sharing schemes quickly gaining momentum in China.
"We are prioritizing our electrification efforts on China to reflect its importance as a global electrified vehicle market", Ford CEO Mark Fields said in a statement.
Volvo will also build an all-electric vehicle on its Scalable Product Architecture (SPA) platform, which is the same platform the company used for its second-generation XC90 SUV and its 90-Series sedan.
The dominant players in China's electric vehicle market are local, including state-owned Beijing Automotive Group, and Warren Buffett-backed BYD 1211.HK 002594.SZ .
Korea's leading automaker Hyundai Motor will display 19 vehicles in Shanghai this week and hopes to continue the hype it received after revealing the Genesis sports-utility vehicle concept auto in NY last week.
In the latest draft policy released in September, Beijing proposed a requirement that they generate credits equivalent to 8 percent of automakers' sales next year by selling battery electric or plug-in hybrid vehicles, rising to 10 percent in 2019 and 12 percent in 2020.
Vehicle sales hit a record 24.38m in China a year ago and were up 7% in the first quarter of 2017, helped by a growing middle class in lower tier cities, the Shanghai Daily reported.
Volvo's first electric auto will have a 100 kWh battery and be manufactured at its factory in Luqiao, China.
General Motors Co. has announced plans to manufacture and sell a gasoline-electric hybrid version of its Chevrolet Volt in China. The government has the world's most aggressive goals for electric vehicles, which it sees as a way to clean up smog-choked cities and take an early lead in an emerging technology industry.
Expect lots of crossovers to make their debuts at Auto China this year, including the Mini John Cooper Works Countryman SE Cooper All4, the high-performance version of the popular crossover from the German-owned British brand. The Czech carmaker describes it as an SUV coupé that has a range of up to 500km on a single charge, with a top speed of 180km/h. It is due to go on sale next year.
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