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HomeAutomotive news China, Europe, USAEV / Electric vehicleBYD dominates the 2024 Shenzhen Auto Show, spending 138 million USD

BYD dominates the 2024 Shenzhen Auto Show, spending 138 million USD

The 28th Greater Bay Area Auto Show, also known as the Shenzhen Auto Show, is a significant event in the Chinese automotive industry. For the first time, it will be held at the Shenzhen International Convention and Exhibition Center from June 1 to June 9.

The exhibition, covering an area of 200,000 square meters, has attracted approximately 200 automotive manufacturers featuring over 1,000 vehicle models. This is a unique opportunity for technology enthusiasts to stay informed and engaged with the latest developments in the industry. Parts suppliers, technology service providers, and academic research organizations are also present, further enriching the event.

The Greater Bay Area of China is located in South China. It includes nine cities in Guangdong Province and the two special administrative regions of Hong Kong and Macau. Its total population is 86 million.

BYD invested approximately one billion yuan (138 million USD) in Hall 1, which spans 20,000 square meters indoors and nearly 30,000 square meters outdoors. The pavilion features BYD and its sub-brands, Denza, Yangwang, and Fangchengbao. The exhibition includes the world’s first large-scale public demonstration of floating driving technology from the Yangwang U8. On center stage stood the BYD Seal 06 and Qin L DM-i models, which use BYD’s fifth-generation DM technology. In Hall 2, we could find Huawei HiCar’s booth showcasing a range of models from its Aito, Stelato, and Luxeed brands.

BYD and Huawei, both Shenzhen-based companies, are leading the way in the Chinese new energy vehicle market. In the first five months of 2024, BYD sold 1.2713 million new energy vehicles, making it the top seller in China. Similarly, Huawei, with its delivery of 148,098 new cars on June 4, has emerged as the top-selling brand among the new players.

Other prominent automotive brands, including Geely, GAC, XPeng, NIO, and Mercedes-Benz, exhibited their latest innovations at the event.

The Future Automotive Pioneers Conference, a key part of the show, played a pivotal role in shaping the future of the automotive industry. Leaders such as Lei Jun, Richard Yu, and William Li discussed technology challenges and market opportunities, emphasizing self-developed technology, market insights, innovation speed, and strategic layouts for intelligent driving. Their insights and discussions at the conference highlight the industry’s prospects and the potential for international cooperation, instilling a sense of hope and optimism in the audience about the future of the automotive industry.

Shenzhen leads China in the development of new energy vehicles (NEVs). Its three-year plan is to become a world-class automotive hub by 2025 and target over 2 million NEVs annually. In 2023, the city achieved a 67.9% NEV penetration rate, double the national average.

Editor’s Notes:

At the event, I noticed a shift of interest from overseas brands to Chinese domestic car brands. The crowds were especially drawn to BYD, Nio, Li Auto, and Geely, just to name a few. Honda’s exhibition was surprisingly quiet. Not even Ultramen can save them.

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