Over the past two years, the number of Chinese auto exports jumped by more than half.
Shanghai’s first auto show since the end of China’s zero COVID policy offered a glimpse of the future.
Almost every car there was electric or hybrid.
From Chinese startups to established players like BYD, one of the largest EV makers in the world to legacy American brands, they were all present at the Shanghai show.
The test drives were virtual.
Over the past five years, China’s automotive exports have more than tripled.
Until now, they went to developing countries.
But that’s changing. Geely, the Chinese automotive company that owns Volvo, has the U.S. in its sight with a whole new concept.
So does the company Lynk.
For a flat fee of about $600 per month, which covers maintenance and insurance, drivers can lease a Lynk car and back out any time, and the Lynk app lets drivers share their vehicles when they’re not using them for cashback.
But Lynk’s CEO is confident consumers will buy in, Chinese-owned or not. The concern is politics.
“I think what worries are more, the political movement that may happen in terms of import barriers, etcetera,” said CEO of Lynk Alain Visser.
The U.S. is one of the toughest car markets in the world.
Two things appear certain: the road ahead is electric, and the Chinese are coming up fast in the rearview mirror.