Han Sanchu, Executive Vice President of Volkswagen Group: The Chinese automobile market is in a state of fierce competition and rapid technological iteration.

On April 11th, the High-level Forum on the Development of Intelligent Electric Vehicles was held. At the forum, Han Sanchu, Executive Vice President of Volkswagen Group and CEO of CARIAD China, stated that the Chinese automotive market is not only the "largest in scale," but also the most complex and fastest-changing market in the world. There are several very clear trends: firstly, the traditional market segmentation is being broken. The boundaries between "mainstream" and "luxury" are gradually becoming blurred, and products and technologies are beginning to compete across price ranges. Secondly, intelligence has become the core of user decision-making, from smart driving to digital cockpits, "bonus items" have become "must-have items." Thirdly, competition is intensifying. There are already over 100 brands in the Chinese new energy market, and overall competition remains at a high intensity. In general, the Chinese automotive market presents a state of fierce competition and rapid technological iteration.