According to Bloomberg, citing data from the automotive platform Dongchedi, around 650 new or updated models were launched in China in the first half of this year alone — equivalent to nearly four per day. The surge is particularly pronounced in the electric car segment of new energy vehicles (BEV, PHEV, and REEV).
While the figure of 650 includes minor model updates, such as configuration adjustments, new colour options, and aesthetic relaunches under co-branding, the number of completely new models remains exceptionally high, at around 30 per month, according to Bloomberg.
This trend reflects the success of Chinese automakers in shortening development cycles, as well as their efforts to integrate technological advancements such as more powerful batteries into their vehicles as quickly as possible. These strategies come from companies aiming to get a competitive edge in the fiercely contested market.
“This is completely insane,” said He Zhiqi, Executive Vice President of BYD, in a quote cited by Bloomberg. He described the domestic market as “not just highly competitive, but brutal.” For foreign manufacturers, this development is likely bad news.
bloomberg.com
