China's EV Market Drives Automakers to Embrace Advanced Technology

Global automakers are ramping up their efforts to compete in China, the world's largest electric vehicle (EV) market. Domestic brands currently dominate the market, but international players are leveraging advanced technology to challenge their position. BMW China plans to introduce hands-free autonomous driving features by the end of 2023 or early 2024, while Volkswagen Group is investing in Chinese EV maker Xpeng to co-develop new EVs with advanced driver-assist software. Other automakers, such as BYD and Toyota, are also partnering with tech companies and boosting their development of EV technology to cater to the growing Chinese market.