China’s auto show highlights electric ambitions
“Competition is getting more fierce,” said industry analyst Paul Gong of UBS.
Communist leaders have been promoting electrics for 15 years in hopes of cleaning smog-choked Chinese cities and gaining an early lead in a promising industry.
General Motors, Volkswagen, Nissan and other global majors are developing models to suit Chinese tastes. They have money and technology, but local rivals have experience: brands including BYD Auto and BAIC Group have been selling low-priced electrics for a decade.
At the Shanghai show, which opens to the public Saturday, automakers plan to display dozens of electrics, from luxury SUVs to micro-compacts priced under $10,000. They aim to compete with gasoline-powered models on performance, cost and looks.