Global automakers, including Toyota and Volkswagen, took the stage at the Shanghai auto show on Tuesday with built-for-China and electric-drive products to compete for a high-stakes comeback in the world's largest market.
But after a year when trends have shifted sharply against the established foreign brands that once dominated in China, executives from Chinese automakers offered a reality check: the game is moving faster and the pressure to cut prices is getting more intense.said at the show it would introduce 10 more electric vehicle models by 2026 and cut the time to develop new models by almost 40% to keep pace with faster-moving Chinese rivals.
On Tuesday, BYD launched a hatchback-styled EV, the Seagull, that takes aim at the small car market that Toyota has long-dominated with models like the Corolla, a global best-seller. The price on the Seagull will start at the equivalent of just over $11,000.CHINA TODAY, TOMORROW THE WORLD Within a decade, he said, he expected China to be able to sell a SUV-styled EV with a battery range of 400 km for around $7,500.
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