Electric car companies compete fiercely at the 2023 Auto Show in Germany

At the 2023 International Automobile Exhibition (IAA) in Munich (Germany), analysts and auto industry executives said that European automakers must prove their ability to compete with new Asian rivals in the era of electrification across all sectors.

Auto Show 2023: Electric car manufacturers compete fiercely. (Source: bloomberg)

About 41% of manufacturers attending this year's 2023 auto show are headquartered in Asia, with more than double the number of Chinese companies, including battery and electric vehicle makers BYD, CATL and XPeng.

Chinese and German exhibitors, including leading German automakers as well as Chinese companies LeapMotors and Horizon Robotics, will speak at the China Electric Vehicle Conference on September 6-7, the first to be held outside China and considered part of the IAA.

Price competition will be a key theme at the conference, with US carmaker Tesla showcasing its upgraded Model 3, which is expected to go on sale in Europe from October for 42,990 euros ($46,400).

Meanwhile, Mercedes-Benz will introduce the CLA compact car and BMW will unveil the Neue Klasse. Both aim to extend the range and improve efficiency of their vehicles while halving production costs.

Volkswagen held a showcase for its electric car brand CUPRA on September 3 and outlined a new design-oriented approach for the company. Volkswagen's design chiefs have been working more closely with the brand's 10 CEOs to create stronger differentiation.

“What was once a show for the German auto industry to demonstrate its extremely strong position has now become a meeting of equals between progressive competitors from around the world , especially China,” said Fabian Brandt, an expert at consultancy Oliver Wyman.

Source: https://baoquocte.vn/cac-hang-xe-dien-canh-tranh-quyet-liet-tai-trien-lam-o-to-2023-o-duc-240816.html