China’s electric car market is overflowing with competition, and local automakers are pulling out all the stops to win over customers. We’re not just talking about driving range here. These companies are cramming their new models with jaw-dropping features like in-car projectors, refrigerators, and advanced driver-assist technology.
Take the Aito M9 SUV, for example. On the front seats of this snazzy vehicle, passengers can recline while watching a movie on a roll-down projector screen and store drinks in a refrigerator compartment. And that’s just the tip of the iceberg.
These electric vehicles in China are becoming more like consumer electronics. It’s like the smartphone industry, according to Li Yi, chairman and CEO of Appotronics, a Shenzhen-based laser display company that claims to work with major automakers. He pointed out that in China, it’s all about the gadgets and the entertainment. But in Europe, the focus is more on functionality.
One standout model in China is the M9 SUV from Huawei’s Aito brand. As of Jan. 1, Aito said orders for the M9 surpassed 30,000 vehicles, with deliveries set to begin in late February. This six-seater car comes with a refrigerator, collapsible front seats, and tech that projects information onto the road ahead. It’s called AR HUD, and it can also display navigation instructions. The price tag for this beauty ranges from about 470,000 yuan to 570,000 yuan ($66,320 to $80,430).
But it’s not just Huawei making waves. Li Auto’s L9 SUV and Xpeng’s G9 SUV are also loaded up with impressive features, with prices that won’t break the bank.
Apporotronics’ Li believes that car tech is going to help his company grow by leaps and bounds. He said he expects this new business segment to generate “a few hundred million” yuan this year in revenue – the equivalent of about $40 million to $100 million.
Chinese companies are dominating the supply chain for electric car batteries. As a result, traditional foreign auto giants are struggling to keep up with the surge of electric cars in the Chinese market. And with the push from the Chinese government for more driver-assist and self-driving technologies, the future looks bright for the electric car market in China.
This is just a taste of what’s happening in the electric car market in China. More than 100 new electric vehicle models are due to launch in 2024, and consumers’ interest in new car models has focused on in-vehicle tech features and driver-assist capabilities — “far more advanced” than prior electric cars or traditional gasoline-powered vehicles, according to Yiming Wang, an analyst at China Renaissance Securities.
The focus is no longer just on driving range but on bringing the latest tech and features to consumers. And with so many new models expected to hit the market, the competition will only get hotter. So buckle up and get ready for a ride into the future of electric cars in China!
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