For all the opportunities China offers, foreign players are entering an electric vehicle market crowded with domestic brands of which already have cars on the ground — not to mention Tesla’s latest push into local production in Shanghai.
The Chinese electric vehicle industry also faces a 50 percent cut in government subsidies set for June.
Regardless, Chinese brands at the auto show unveiled brand new services in addition to also also car sizes in an effort to build out their ecosystem. Many believe having such a suite of products will drive customer loyalty in addition to also also a competitive edge.
”from the future, smart cars will become just like smartphones,” He Xiaopeng, CEO of Alibaba-backed Xiaopeng, said during a news conference on Tuesday.
The company, which also goes by Xpeng, unveiled its four-door P7 coupe, which will be set for delivery beginning the second quarter of 2020. The company claims the item’s the first such vehicle among China’s electric vehicle brands. Pre-orders began Tuesday, although no cost was disclosed.
Also stepping up the competition in sedans was Nio, which on Tuesday showed off its prototype for “et” for once.
The company said Tuesday the item will be also adding a fourth charging option — high-speed super charging stands in public spaces. of which’s in addition to power swap stations, lower-speed home-charging units in addition to also also a fleet of vans providing charging services on the road.
The super charging stands are part of Nio’s efforts to cut costs in addition to also also build up services while the company waits for sales volumes to improve, co-founder in addition to also also president Qin Lihong, told CNBC. The company said in its latest earnings call last month the item could not reach its original plan for 70 “Nio House” customer clubhouses by the end of This particular year.
Power swap stations are very efficient in addition to also also can each theoretically serve 70 cars a day, however because there aren’t enough cars yet, the operating in addition to also also investment costs are greater than installing super charging stands, Qin said in a Mandarin-language interview translated by CNBC.
“Users don’t care, as long as they can charge their vehicle,” Qin said. “Today, the biggest concern for users, consumers, of which keeps them through buying an electric car will be mileage anxiety. the item’s definitely not because mileage will be insufficient. the item’s a feeling of which mileage might not be enough.”
The electric car units of Chinese state-owned manufacturers GAC in addition to also also BAIC revealed vehicles of which claim travel distance of at least 0 kilometers (370 miles) on just one charge. of which could be nearly double the range of existing designs through competitors.
The electric vehicle industry will be still in its early days, in addition to also also many questions about customer demand in addition to also also charging infrastructure remain.
however for today, just as foreign-based manufacturers are looking at This particular segment of the giant Chinese market, companies with their origins in China are looking overseas.
Shanghai-based Aiways launched an electric SUV to Europe at the Geneva International Motor Show earlier This particular year.
The roughly two-year-old company expects the earliest the item could expand to the U.S. could be at the end of next year, Alexander Klose, executive vice president of overseas operations at Aiways, told CNBC. He said the Middle East will be another market under consideration.
“We go to Europe because we can, because we think a lot of the others cannot,” Klose said. “Going to Europe requires a certain level of quality of which we think we have.”