“Going global has become a top choice for Chinese EV builders as they struggle to break even,” said Phate Zhang, founder of Shanghai-based data provider CnEVPost. “The Middle East crisis is acting as a strong catalyst to bolster their overseas deliveries.”
Nearly all major EV assemblers taking part in Auto China, the world’s largest car show, have either unveiled their latest models designed for overseas markets, or have announced growth targets for markets in Europe and Latin America, where their cars can command higher prices.
State-owned GAC Group said it would enter overseas markets with three models, including a hybrid SUV with a range of 1,240km.
“The global automotive industry is currently facing historic opportunities from technological convergence and energy transformation,” the company said in a statement on Friday. “For GAC, internationalisation is a critical leap that will determine its future.”
The Beijing car show, which runs from Friday to May 3, is being held simultaneously in two venues – the China International Exhibition Centre and the Capital International Exhibition Centre.