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As one would expect, many events have taken place at the Shanghai Auto Show, including a concept of Volkswagen's electric SUV (OTCPK: VWAGY) and new models of EV's. Audi, Renault (OTC: RNSDF), Aston Martin, Infiniti. (OTCPK: NSANY), Nio (NYSE: NIO) and Lotus.
General Motors (NYSE: GM) also played its EV muscles with an introduction to the Buick Velite 6, its first all-electric model for the Chinese market.
Toyota (NYSE: TM) unveiled the C-HR and IZOA electrified models, both destined for the market in 2020.
Tesla (NASDAQ: TSLA) is not a big attendee at auto shows in general, but has posted an S model, an X model, two models 3 and a Supercharger at the Shanghai event.
Startups are in vogue in China and one of them is Xpeng. The EV has announced the launch of a new electric sedan of over 300 km. Xpeng is targeting shipments in the second quarter of 2020.
More generally, sales of all-electric and hybrid vehicles rose 60% in 2018 to 1.3 million euros, accounting for nearly half of the global electric vehicle market. Electric vehicles are expected to account for about 3% to 4% of each manufacturer's total Chinese output in 2019 and 2020, under pressure from Beijing, the source said. The Wall Street Journal. Of course, some automakers like Daimler (OTCPK: DDAIF) are using credits from other automakers to stand out.
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