Eco-friendly vehicles are this year’s highlight for the 17th Shanghai International Automobile Industry Exhibition (Auto Shanghai 2017). More than 1,000 manufacturers arrived at Shanghai with the intention of having the opportunity to profit from China’s budding market for electric vehicles.
With the theme of “Committed to Better Life,” the heart of the show will be on the never-ending possibility of human life resulting from new technologies, trends and products and present the latest improvements of electric cars, intelligence and networking.
Auto Shanghai 2017 will be focusing on green energy as automakers worldwide go all-out to create vehicles that rely less or not at all on fossil fuels.
The show is displaying about 1,400 cars, 159 of which are the eco-friendly vehicles, 113 to make their world premiere, 96 from Chinese companies and 63 foreign ones.
Several top carmakers have already announced their plans on producing and selling electric vehicles for the Chinese market since it is the biggest auto market as of the moment. China’s government alsohas the most firmed objectives for electric cars which is why it serves as a way to clean up smoke-filled cities and gain a lead in the growing technology industry.
Ford Motor Company says that it will introduce by next year the Mondeo Energi a plug-in hybrid sedan in China. It alsohas a plan on making electric and plug-in hybrid cars by 2025 together with its domestic joint venture partner Changan Automobile Co., Ltd.
General Motors Co. also announced on Wednesday during the exhibition its plans to manufacture and sell a Chinese version of its gasoline-electric hybrid the Chevrolet Volt and 10 Neighborhood Electric Vehicles (NEVs) by 2020.
German carmaker Volkswagen (VW) AG has revealed on Auto Shanghai 2017 the ID Crozz electric crossover vehicle and it also plans to have 13 more NEVs by 2020 and sell 1.5 million electric vehicles by 2025. Audi AG showcased its latest electric vehicle at the exhibition as well, which was the e-tron Sportback concept which is expected to go through production by 2019.
Toyota announced on Tuesday that it will begin road testing its fuel cell vehicle Mirai in China by October and will release a plug-in hybrid next year.
Conversely, stock prices for Ford, VW and Audi have shown growth on Wednesday. Ford rose 0.09 percent to 11.14, VW went a 1.7 percent higher to 143.25 and Audi climbed 0.9 percent to 646.74.
Stock prices for General Motors and Toyota presented a decline of the same day. General Motors lost 0.6 percent to 33.69 while Toyota got a 0.7 cut to 105.32.
The Chinese government plans to make production quotas for automakers by 2018. Last year, the latest car sales in China recorded a two-digit increase of about 28 million units and keeping the country’s title as the world’s largest car market for eight successive years. Small car sales are also expected to rise due to the extension of a tax break that was suppose to expire last year.
Meanwhile, China’s premium car market is predicted to grow by 50 percent over the next decade. Motivated by wide-ranging development in the world’s second largest economy, increasing wealth and commercial development of private firms, China’s market will grow to around 3 million cars per year in a decade’s time.
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