Beijing Motorshow 2024: Future electric cars coming soon
This image is sourced from: https://news.goo.ne.jp/article/motormagazine/trend/motormagazine-eced2103e0727d3d27e4d00d41eeb4541d76baff.html
The Beijing Motorshow, an annual event, holds significant importance within the automotive industry as it unveils new cars and addresses pertinent issues in the field. Running from April 25th to May 4th at the New China International Exhibition Centre, this year's edition drew over 2,000 exhibitors and welcomed more than 150,000 professional visitors from 65 countries and regions. This year, the show demonstrated the shifting dynamics in competitiveness and showcased cutting-edge technological advancements.
At The Electric Car Scheme, we're thrilled to see the ongoing technological advancements and new electric vehicle releases, as more people start to drive EVs. Our goal is to encourage greater EV adoption by facilitating access through salary sacrifice. Employees stand to save between 30-60% on any electric car if their company offers The Electric Car Scheme as an employee benefit. This initiative alleviates concerns about the substantial upfront costs associated with purchasing electric vehicles, as individuals can enjoy monthly savings on national insurance and income tax through salary sacrificing their electric car. You can learn more about how salary sacrifice works by visiting our salary sacrifice hub.
We have compiled the key takeaways and some of the most exciting new electric cars coming in the next couple of years!
Competition
The Chinese electric car market has always been competitive, so this comes as no surprise. According to Bloomberg, there were 500 Chinese electric car manufacturers in China in 2019, but only 100 remained in 2023 due to fierce competition. This hyper-competition does mean technology is advancing very quickly and the electric cars being produced are of a high quality, which holds power.
Chinese electric vehicle maker XPeng has said ongoing European interest in Chinese-made EVs and regulatory changes could mean there is more investment in plants or suppliers abroad as higher tariffs loom. An example of this comes from Polestar, which is preparing to shift production of the cars it plans to sell in Europe to its US plant from China.
‘Tech’ luxury
The battle for consumers in China’s electric car market is being fought over minor details, like ‘tech’ luxury. This is the power we referenced earlier. Many automakers are offering features intended to be fun and frivolous.
Examples of this include:
The Baojun Yep, a small EV starting at $11,000, has a screen on the back of the car where drivers can share messages like “thank you” or emojis to acknowledge other drivers.
The Zeekr 001 electric sedan can produce music from the front grille to warn pedestrians when stopped.
Dongfeng, a Chinese state-owned automaker, features flush door handles that pop out on command, inspired by Tesla. Owners can start the car and open the doors remotely with a smartphone.
These are all cool features that are nice to have but won’t affect your driving experience. These marginal gains are a testament to how competitive the market is.
New, exciting launches
The part you’ve been waiting for. The Beijing Motorshow is a great opportunity for automakers to announce new launches and prototypes. Many automakers were seen to unveil new cars tailored towards Chinese drivers/consumers. These include household names like Nissan, Audi, Mazda and Honda.
Nissan
This image is sourced from https://www.motor1.com/news/717406/nissan-epoch-evo-sedan-concepts/
Starting off with Nissan. Nissan's China sales slumped 16% to 794,000 vehicles but pans to export cars from China from 2025. In Beijing, Nissan had four cars on display; two battery electric vehicle (EVs) concept cars and two plug-in petrol-electric hybrids.
Nissan Epoch Concept
This is an all-electric Sudan built for cities and the suburbs. It has used AI to build a virtual personal assistant to driving easier and more comfortable - it even recognises emotions.
These images are sourced from https://www.topgear.com/car-news/concept/these-four-radical-nissan-concept-cars-could-preview-its-future-design-language
Nissan Epic Concept
The Epic is an SUV built with longer distances in mind, with autonomous driving for both cities and motorways. It can function as a mobile power source with electricity to power equipment, which is handy in a power cut and on campsites.
These images are sourced from https://www.topgear.com/car-news/concept/these-four-radical-nissan-concept-cars-could-preview-its-future-design-language
Nissan’s PHEVs
As aforementioned, Nissan also showcased two plug-in hybrids: Era and Evo. The Era is an SUV and has zero-gravity seats and e-4ORCE all-wheel control as well as active air suspension to ensure a comfortable driving experience. The Evo concept is a sedan and perfect for families. It has driver support, advanced safety functions and the virtual personal assistant found in the Epoch.
We have two Nissan models available to lease from The Electric Car Scheme - you can find out more about them in this blog, where we discuss performance, infotainment and space inside the cabin so you can make an informed decision before jumping behind the wheel!
The graphic above shows how much you could save through The Electric Car Scheme, by paying for the lease from your gross salary. You save £186 in income tax savings and £9 in national insurance savings. You will have to pay a small amount in benefit-in-kind tax, otherwise known as a company car tax, which for the Ariya is £45.
Mini Aceman
These images are sourced from https://www.pistonheads.com/news/electric-vehicles/mini-reveals-all-electric-aceman-concept/45993
The Mini Aceman was also in Beijing and could replace the Mini Clubman as a full-electric model. Limited information about the Aceman has been revealed, but we do know there will be two variants to choose from: the Aceman and Aceman S. It is thought that the entry-level model will get a 40kWh battery, with 181bhp and 290Nm of torque. The S will be equipped with a 54kWh battery, with 215bhp and 329Nm of torque set to the front wheels.
You can read about the best small electric cars we have available to lease at The Electric Car Scheme by reading our blog - the Mini is one of the most iconic British cars and steals the top spot here.
Mazda EZ-6
These images are sourced from https://www.topgear.com/car-news/electric/mazda-has-unveiled-electric-ex-6-saloon-and-it-looks-predictably-excellent
Much like Nissan, Mazda has lost more market share in China, selling 85,00 vehicles which is down 72% compared to 309,000 cars in 2017. In Beijing, Mazda showcased the EZ-6 which combines Mazda’s design language, KODO: Soul of Motion, with its signature driving performance which focuses on the “car and driver as one.”
Two versions of the EZ-6 will be available, a fully electric car and a PHEV version. The electric model is expected to have a range of approximately 372 miles. Its main competitors will be the BYD Seal and Tesla Model 3.
Nio ET7 Facelift
These images are sourced from: 1. https://www.nio.com/?noredirect=& 2. https://carnewschina.com/2024/04/17/new-nio-et7-with-semi-solid-battery-reached-1070-km-in-real-world-testing/ 3. https://cnevpost.com/event/2024-nio-et7-launch/ 4. https://twitter.com/NIO_Worldwide/status/1779765550824202746
Nio is lesser known in the UK market but is a Chinese EV start-up. It showcased its ET7 sedan at a price point of $59,063. There have been 30,000 deliveries of the original ET7 since deliveries started in 2022. The new version of the sedan allows for screen mirroring and synchronisation on IOS and Android devices, which is a great addition to ease of use.
Audi Q6L e-tron
These images are sourced from https://www.captainelectro.com/cars/audi-q6l-e-tron-stretches-its-legs
Audi launched the long wheelbase version of its Q6 e-tron. This model will be exclusive to China and is expected to use the powertrains from the standard model. The dual-motor set-up will send 382hp to all four wheels and will come with a 100kWh lithium-ion battery.
At The Electric Car Scheme, we have a wide variety of different Audi’s available to salary sacrifice, saving employees between 30-60%. You can read our blog that details all of the Audi models we have available, with details on their performance, interior and infotainment systems. Alternatively, you can visit our quote tool and input your salary, lease time and how many miles you want to travel per annum and it will work out your savings monthly! You can see how much it would cost to lease the Audi Q6 e-tron for three years below.
Without The Electric Car Scheme you could be paying £1,028 per month, but with the salary sacrifice savings you would only pay £669. This means you would save £432 per month in income tax and national insurance savings. It’s a win-win!
Bentley Mulliner Batur
These images have been sourced from https://www.carmagazine.co.uk/car-news/first-official-pictures/bentley/mulliner-batur/ https://www.thegentlemanracer.com/2024/04/bentley-unveils-new-mulliner-collection.html https://www.motor1.com/news/608720/bentley-mulliner-batur-shooting-brake/
Making its debut is Bentley's new luxury GT sports car, the Milliner Batur. It will be able to achieve 730bhp and 1,000Nm of torque, meaning it is estimated to achieve 0-62mph in as little as 3.3 seconds. Deliveries are expected to commence in China by the end of 2024.
BMW Vision Neue Klaus
These images are sourced from: https://www.carmagazine.co.uk/car-news/first-official-pictures/bmw/vision-neue-klasse-x-concept-car/ https://www.autocar.co.uk/car-news/new-cars/bmw-vision-neue-klasse-x-sets-template-brands-electric-suvs https://europe.autonews.com/munich-auto-show/bmw-neue-klasse-evs-will-maintain-current-profit-levels
According to Oliver Zipse, Chairman of the board of management of BMW Group, the Neue Klasse vehicles are "more than just a car or a specific concept; it is redefining the BMW brand". Batteries used in Neue Klasse vehicles will extend their driving range by up to 30% but cut their charging time by 30% compared with current ones.
This concept showcases the future possibilities of the carmaker, with a focus of reducing the CO2 footprint throughout its life cycle. Alongside this concept SUV was also the facelifted BMW i4.
BYD Ocean M & U7
These images are sourced from: https://www.drive.com.au/news/chinas-byd-unveils-electric-hot-hatch-concept/ and https://uk.motor1.com/news/718460/byd-ocean-m-concept-revealed-beijing/
BYD's latest EV, the Ocean-M, is the sportiest-looking in its current lineup. It will also be the first electric performance hatchback with rear-wheel drive. Specifications for the Ocean M are currently unknown, but it has sharp headlights and a roof-mounted wear wing which highlights the speed of the EV. The Ocean M will be a great addition to its lineup of EVs and market share (which has surpassed Tesla).
The BYD YangWang U7 was also at the Motorshow and key specifications are available online. It is said to have over 1,000 horsepower and will compete with the Tesla Model S.
You can learn more about the BYD’s currently available to lease from The Electric Car Shceme, along with a review by our very own Marketing Director, Gaurav. At The Electric Car Scheme, we have three BYD models available: Atto 3, Seal and Dolphin. The graphic below shows how much you could save by sacrificing some of your salary before tax if a 40% taxpayer, were to lease the BYD Atto 3 for three years.
If you were to lease the BYD Atto 3 from The Electric Car Scheme you would pay £274, saving £170 in income tax and £9 in national insurance savings!
Honda Ye GT Concept
These images have been sourced from: https://paultan.org/2024/04/26/beijing-2024-honda-ye-evs-on-display-p7-and-s7-to-launch-in-2024-production-gt-concept-in-2025/2024_autochinabeijing_honda_ye_gt-2/ and https://www.autonews.com/automakers-suppliers/hondas-ye-evs-china-point-us-bound-next-gen-models
The Honda Ye GT will only be available in China; one of 10 new EVs introduced to the Chinese market by 2027. It is a cool concept car, but little information has been released in terms of specifications. We do know a large screen will be added for the front seat passenger, something we haven’t seen from Honda yet.
ORA 07
These images are sourced from https://www.autocar.co.uk/car-news/new-cars/gwm-ora-07-prototype-drive https://www.autoexpress.co.uk/ora/360026/gwm-ora-unveils-lightning-cat-upmarket-saloon-model and https://www.carsifu.my/news/gwm-ora-07-previewed-two-variants-long-range-640km-range-nedc-standard-and-performance-550km
The ORA is already an interesting car to look at, and the 07 is no exception. We know it will be equipped with an 83.5kWh battery, and as a four-door coupe, it will compete with the BYD Seal. It will be available in two variants: Long Range and Performance. The former comes with a motor that produces 200bhp and 340Nm of torque. The latter will be equipped with two motors and will produce 402bhp and 680Nm of torque, allowing it to achieve 0-60mph in 4.3 seconds.
Technology advancements
The Beijing Motorshow is a great time for manufacturers to showcase new technologies. Advanced driving systems, like Tesla’s Full Self-Driving (FSD) were marketed by several automakers as unique selling points. BYD said it will launch a Song L SUV with its own developed smart driving system in June. AI personal assistants were also shown, a key component of the Nissan EV and PHEV. It will be interesting to see how these perform in real-world situations!
Battery makers also showcased a lithium iron phosphate battery, different to the lithium-ion batteries commonly found in EVs, with an estimated driving range of 621 miles on a single charge. This would eliminate any range anxiety, still common with some newer electric car drivers.
The Electric Car Scheme allows employees of companies, who offer EV salary sacrifice as an employee benefit, to save between 30% and 60% on the cost of an electric car. We understand the upfront cost of buying an EV is expensive. At The Electric Car Scheme, you can pay from your gross salary, saving on income and national insurance taxes. We have access to thousands of EVs on the market - you can the electric cars we have available by visiting our quote tool.
Watch the video below to see how Dreams Beds set up the scheme!
Last updated: 10/05/24
Our pricing is based on data collected from The Electric Car Scheme quote tool. All final pricing is inclusive of VAT. All prices above are based on the following lease terms; 5,000 miles pa, 48 months, and are inclusive of Maintenance and Breakdown Cover. The Electric Car Scheme’s terms and conditions apply. All deals are subject to credit approval and availability. All deals are subject to excess mileage and damage charges. Prices are calculated based on the following tax saving assumptions; England & Wales, 20% tax rate. The above prices were calculated using a flat payment profile. The Electric Car Scheme Limited provides services for the administration of your salary sacrifice employee benefits. The Electric Car Scheme Holdings Limited is a member of the BVRLA (10608), is authorised and regulated by the FCA under FRN 968270, is an Appointed Representative of Marshall Management Services Ltd under FRN 667174, and is a credit broker and not a lender or insurance provider.
