Chinese car giants locked in a cut-throat price war descended on the capital for the start of the Auto China show Thursday, vying to draw consumers and headlines in the world's biggest electric vehicle market and abroad. China's EV sector has exploded in recent years, and firms are now engaged in a no-holds-barred battle to offer customers the coolest accessories at the lowest prices. EV makers from China have made inroads into markets from Europe to Southeast Asia and Tesla's Elon Musk described them in January as "the most competitive car companies in the world". Beijing's Auto China show, which lasts until May 4, sees dozens of firms square off in a bid to draw customers at one of the country's biggest car shows. Thursday saw crowds surge into the convention complex hosting the event, which takes place every other year but had not been held since 2019 because of the pandemic. Several of the Chinese automotive world's top stars addressed audiences at the expo - including CEOs He Xiaopeng of XPeng and Lei Jun of Xiaomi - while visitors milled around the booths, snapping pictures of the shiny new vehicles on display. There are a staggering 129 EV brands in China, but just 20 have managed to achieve a domestic market share of one percent or more, according to data compiled by Bloomberg. Chinese consumers, especially in the premium market, expect smart functions in their EVs, something domestic firms are far better placed to provide than foreign companies, experts said. 'If you can't beat 'em, join 'em' Chinese EV makers "are looking at the car much more like Apple looks at the phone or the iPad or the laptop. They're looking to really amp up the experience", said Daniel Kollar, head of automotive and mobility at the consultancy Intralink. "That's... what the Chinese consumer expects." For established foreign firms trying to compete in the Chinese market, that poses a challenge. "Companies... |