At the beginning of 2024, the new energy vehicle industry continues to enjoy significant popularity. Under the banner of "electricity is cheaper than oil", major automakers are engaging in a "price war" to boost their brand competitiveness. At the same time, rumors about financial problems at HiPhi have not yet abated, and Apple has officially abandoned its decade-long electric vehicle plan. A series of news has affected the whole industry, with heads of major automakers unequivocally stating that the year 2024 is poised to bring about more fierce competition.
From another perspective, fierce market competition is also indicative of robust market demand. According to the joint research report released by China EV100 and McKinsey & Company, the global new energy vehicle industry is experiencing rapid growth; by 2030, global passenger car sales are predicted to exceed 80 million units, of which approximately 40 million units are new energy vehicles, with a penetration rate of almost 50%. However, changes in the environment, industry phases, and users have rendered many once-familiar challenges in need of fresh solutions. Both new energy vehicle (NEV) manufacturers and automotive suppliers must identify new areas of growth to secure a strong position within this fiercely competitive market.
In this regard, electronica China, which will be held at the Shanghai New International Expo Centre from July 8 to 10, 2024, will convene numerous leading NEV manufacturers and technology service providers around the world to jointly showcase and discuss how to promote technological innovation and elevate the industry, thus driving the high-quality development of NEV technologies. During this event, a series of theme forums, including "2024 New Energy Vehicles Three Electric Technology Summit Forum" and "International Automotive Electronics Conference," will take place. These gatherings will bring together experts in the NEV ecosystem to collectively explore and discuss the trend of the new energy vehicle industry.
Partial New Energy Vehicle Application Exhibitors at electronica China 2024
Throughout 2023, the automobile industry plunged into fierce competition. Price war, intelligent upgrading, and energy charging and replenishment were the main themes throughout the year and will persist into 2024. However, the constant activity within the industry represents the high growth in the market. Next, where should new energy vehicles "drive"? What opportunities and challenges will automakers and supply chain industry face? You might find inspiration at electronica China 2024, while exploring the emerging trends in the new energy vehicle industry alongside numerous leading NEV manufacturers and technical service providers around the world.
