EVs set to dominate Auto China 2018 event this week
The forthcoming Auto China 2018 event in Beijing this week will unfold an important platform for China to showcase its ambitions to become an electric-vehicle (EV) market leader, along with giving EV manufacturers an opportunity to unveil their newest offering for Chinese customers.
The upcoming auto show will be one of biggest global auto shows of the year. The event is preceded by a recent decision by Chinese authorities to promote the use of EVs and increase flexibility in the industry by allowing full foreign ownership of Chinese automakers.
With China already offering billions of dollars in subsidies to EV manufacturers and buyers, the financial burden of bringing EVs to the market is now being shifted on to the automakers with sales quotas that push them to develop EV models which are appealing for Chinese buyers.
The move will evidently put focus on EVs at the forthcoming auto show, as is evident from the fact that a wide range of EVs will be showcased at the event. Chinese automakers as well as global automobile brands like General Motors Co., Nissan Motor Co., and Volkswagen AG will display affordably-priced compact EVs, along with several other electric cars, hybrids, and luxurious SUVs at the show.
With global automakers hopeful that EVs will represent 35-50 % of the China sales by 2025, Roland Krueger, Chairman of Nissan's luxury brand Infiniti Motor Co. said that there is a “huge potential for vehicle electrification” in China.
Ahead of the official unveiling of the BMW iX3 SUV at the 2018 Auto Show in Beijing this week, German automaker has shared a teaser video for the new vehicle, which is being considered a part of the automaker’s X SUV line-up.
According to a survey carried out by AAA, the adoption of electric vehicles (EVs) is encouragingly on the increase in the United States, with 20% Americans having expressed the possibility of going electric when they buy their new car.
During the course of Tesla Motors first-quarter 2018 earnings call, the company CEO Elon Musk teased a potential gigantic 1 GWh energy storage project which is likely to be announced soon.
In a recent announcement, Mercedes-Benz has revealed that it is making a new investment of nearly US$600 million into its Hambach car-manufacturing factory in France.
In a new massive energy storage project in the UK, battery packs of BMW i3 electric car have been used for connecting to the UK National Grid.
British energy company BP has announced that it is investing an amount of $20 million in Israeli startup StoreDot which is known in the battery world for its ‘ultra-fast charging battery.’