China auto industry focusing on luxury EVs

Visitors looking at an Xpeng X9 electric multi purpose vehicle (MPV) on display at the Guangzhou Auto Show on Nov 17. — Bloomberg

GUANGZHOU: Development of domestically produced premier electric vehicles (EVs) will be a key strategy for Chinese automobile manufacturers, as the global new energy vehicle (NEV) market has entered a golden era, according to automobile manufacturers during an international auto show in Guangzhou, the capital of Guangdong province.

“The domestic NEV market has kept growing, with exports also witnessing a sharp increase,” said Feng Xingya, president of GAC Group, a leading automobile manufacturer based in Guangzhou.

The Guangzhou-headquartered company introduced its latest i-GTEC, GAC Motor E8 and its new NEV arm Aion’s Hyper HT and Aion Y series during the Guangzhou auto show, which kicked off last Friday and displayed the latest 469 NEVs and smart electric technologies and services.

According to Feng, export of China’s NEVs is expected to grow by 50%-60% year-on-year in 2023. — China Daily
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