BEIJING, April 25 - China's largest auto show opened in Beijing on Thursday with the biggest names showing off their latest electric vehicles , underlining how the world's largest auto market is already in an all-electric state of mind, and isn't looking back.
Sales have been getting a boost from a year-long price war that has sapped profit margins, as automakers strive to keep up by announcing newer, cheaper models and promotions. It also announced the Ocean-M, a sporty rear-wheel-drive hatchback priced 150,000 to 200,000 yuan that will be the first vehicle built on a new all-electric platform. The mid-sized car targets China's middle class and sells far below the price of mainstream EVs in North America and Europe.
Some Chinese brands outlined overseas plans, brushing off European and U.S. concerns about industry overcapacity and stressed they had simply become better through innovation.