2024-03-04 21:29:00
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05.03.2024 00:29, Vladimir Myronenko
China is actively developing the production of electric vehicles. Local automakers have become serious competitors to auto giants from other countries. Chinese automakers are growing regarding 30 percent faster than traditional auto companies because they have disrupted decades-old practices that relied on internal combustion engine cars, industry executives say.
Image Source: Zeekr
Chinese automakers carry out several stages of development at once and are ready to abandon traditional suppliers in favor of smaller, but faster ones. They also conduct more virtual tests instead of time-consuming mechanical ones. And everything allows them to bring cars to market faster.
For example, NIO, one of China’s leading electric vehicle startups, takes less than 36 months from launching a project to delivering an electric vehicle to customers, compared with regarding four years for many traditional automakers. One of the keys to its success is that the company produces cars with hidden technology, including chips that are not used to their full potential at first, allowing it to add new features through software updates.
In turn, Zeekr, a Geely brand, can develop an electric car from scratch in just 24 months. The company is rapidly launching a variety of models, ranging from crossovers and hatchbacks to multi-purpose electric vehicles, sharing a common architecture with other Geely brands such as Polestar and Smart.
Traditional production of gasoline-powered vehicles is a step-by-step process from design to start-up, with a new stage only started following the current one has been completed and verified. Chinese manufacturers are developing several systems in parallel.
In addition, Chinese automakers are actively using digital simulation to create virtual prototypes and conduct tests with more iterations and in a shorter time frame. According to Zeekr and NIO, different teams can work on virtual parts and mockups, and 3D printed prototypes allow for a much faster search for the best design.
Slowing demand for electric vehicles is prompting Chinese automakers to continually update and release new models. Vehicles launched last year accounted for 90% of China’s passenger car sales growth, according to the country’s passenger car association.
Chinese electric vehicle makers update models on average 1.3 years following launch, compared with 4.2 years for foreign brands, according to consultancy AlixPartners.
Tesla CEO Elon Musk and Ford CEO Jim Farley consider Chinese competitors to be the greatest threat to their companies in the future. Despite the current downturn, the share of electric vehicles in total car sales is expected to reach 40% by 2027.
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