Auto Show 2023: Electric car manufacturers compete fiercely. (Source: bloomberg)

About 41% of manufacturers attending this year's 2023 auto show are headquartered in Asia, with more than double the number of Chinese companies, including battery and electric vehicle makers BYD, CATL and XPeng.

Chinese and German exhibitors, including leading German automakers as well as Chinese companies LeapMotors and Horizon Robotics, will speak at the China Electric Vehicle Conference taking place on September 6-7, the first to be held outside China and considered part of the IAA.

Price competition will be a key theme at the conference, with US carmaker Tesla showcasing its upgraded Model 3, which is expected to go on sale in Europe from October for €42,990 ($46,400).

Meanwhile, Mercedes-Benz will introduce its CLA compact car and BMW will unveil its Neue Klasse, both aiming to extend the range and improve efficiency of their vehicles while halving production costs.

Volkswagen held a showcase for its electric car brand CUPRA on September 3 and outlined a new design-oriented approach for the company. Volkswagen’s designers have been working more closely with the brand’s 10 CEOs to create a stronger differentiation.

“What was once a show for the German auto industry to demonstrate its extremely strong position has now become a meeting of equals between progressive competitors from around the world, especially China,” said Fabian Brandt, an expert at consultancy Oliver Wyman.