Beijing: Beijing Auto Show began in China. Several automobile manufacturers or producers are participating in the event. Daimler, Nissan, Volkswagen, Ford, Toyota, and others are displaying around 1,000 different models. In addition, dozens of concept cars are also present at the Beijing Auto Show.
People were eagerly waiting for the auto show and a significant interest is expected in electric cars. In addition, investors are also much interested in the event. China right now confines outsider auto firms to maximum fifty percent stakes of joint ventures along with local organizations. The progressions will end shareholding limits for new vitality vehicle firms when this year, trailed by the commercial autos in 2020 and passenger autos in 2022.
Foreign automobile manufacturers have welcomed the changes. CEO of Volkswagen Group China, Jochem Heizmann, elaborated that he believes in a fair competition. He further added that the level playing field is good for business.
China is Growing
China has seen an enormous growth in different sectors including automobiles. It is one of the leading automobile markets in the world. The country is producing and exporting affordable vehicles to different countries. The auto show will definitely help China to grow its business in the world. However, the growth will give a definite tough time to the other global players in the automobile industry.