Thanks for reading Hyperdrive, Bloomberg’s newsletter on the future of the auto world. Seasoned auto scribes who’ve flocked to China this week were clear-eyed about what they’d find. “We’re at the Shanghai auto show to see the future,” wrote Patrick George, the editor-in-chief of InsideEVs. “China’s electric car market has handily outpaced the rest of the world. From Avatr to Zeekr, we’re about to experience that firsthand.” The show’s opening media day lived up to that billing. To wit, here are some of the dispatches from Bloomberg reporters and editors who swarmed the show floor on Wednesday: BYD’s Big Reveal BYD’s Denza N9 electric SUV. Photographer: Qilai Shen/Bloomberg Wolfgang Egger, BYD's design chief, unveiled a sports car concept from Denza, the EV giant’s premium sub-brand. Until now, Denza had rolled out SUVs, multi-purpose vehicles and sedans. BYD’s luxury brand Yangwang already has a supercar, the U9, that costs almost 1.7 million yuan ($232,000). Xiaomi Draws a Crowd The Xiaomi SU7. Photographer: Qilai Shen/Bloomberg Despite controversy over a recent fatal crash involving one of its SU7 electric cars — an incident that’s set back the launch of its debut SUV — Xiaomi’s stand was hugely popular. Two Ultra EVs, the racier version of the SU7, in emerald green and silver, attracted the biggest throngs. Huawei’s Display Huawei staircase. Source: Bloomberg/Bloomberg On Huawei’s stand, a staircase showcased the cars that use driving systems the company says have avoided 2 million potential collisions. While there remains keen interest in Huawei’s tech, Chinese regulators are increasingly scrutinizing advanced driver-assistance systems and requiring automakers to be clearer about what their products can and can’t do. Toyota Makes Moves Toyota’s bZ7 electric vehicle. Photographer: Qilai Shen/Bloomberg Toyota unveiled the bZ7, a large electric sedan developed with its Chinese partners, and the latest addition to its “beyond zero” lineup of EVs. The Japanese manufacturer signed an agreement with the city of Shanghai this week to establish a wholly owned factory in mainland China for its Lexus brand, which unveiled its updated ES sedan. CATL’s Splash A cross-section of a CATL battery on display at the show. Photographer: Qilai Shen/Bloomberg Many companies didn’t waited for the show to start showcasing their latest products and technological advances. CATL on Monday unveiled a cell it says offers 520 kilometers (323 miles) of range in just five minutes of charging. That was a shot across the bow of BYD, which recently launched a battery system it said would deliver 400 kilometers of range in roughly the same time. Nissan’s Not Going Anywhere Nissan’s former chief executive officer Makoto Uchida. Photographer: Nicholas Takahashi/Bloomberg Nissan committed to investing an additional 10 billion yuan ($1.4 billion) in China, saying it sees the nation’s intensely competitive auto market as fertile ground to help it develop electric vehicles, an area where it needs to improve in order to get back on its feet. “With China moving so fast, we want to stay and we want to compete,” Stephen Ma, the head of Nissan’s operations in China, said Wednesday during a press conference. Elon Musk vowed to pull back “significantly” from his work with the US government and pay more mind to Tesla, assuaging investor concern about the carmaker’s worst quarter in years. The CEO will devote “far more” of his time to Tesla starting next month, saying during an earnings call Tuesday that his work establishing the so-called Department of Government Efficiency will be “mostly done.” Read More: |