The 2024 Beijing Auto Show was a spectacular showcase with nearly 1,000 exhibits, highlighting a remarkable 70% surge in new energy vehicles (NEVs) compared to the previous event. This impressive display brought the total number of NEV showcases to 278, underscoring China's booming EV market.
Known as the 2024 Beijing International Automotive Exhibition, the auto show coincided with NEV sales hitting a significant milestone in early April, now accounting for over 50% of cars sold in China. As the world's most competitive and largest auto market, this shift signals a major transformation in consumer preferences. The event wrapped up on Saturday, attracting a staggering 892,000 visitors in just 10 days.
A recent report from the International Energy Agency echoed this optimism with a bullish forecast for global electric vehicle (EV) sales. The report projects that more than 20% of cars sold worldwide this year will be electric, with demand expected to surge over the next decade, significantly reducing oil consumption in road transport.
“At the Beijing auto show, there's no doubt there is no interest in gasoline vehicles anymore. Everyone is looking for the latest technologies in intelligence and electrification,” stated William Li, founder and CEO of Nio, a leading Chinese EV maker. His remarks highlighted the industry's pivot towards sustainable and technologically advanced transportation solutions.
