Chinese EV makers unite to surpass Tesla

author: FutureCar Staff    

A call for unity and patriotism in China's auto industry has gained widespread attention, with both praise and criticism from industry rivals. Byd, China's top-selling automaker, made the call during an event celebrating the emergence of China as a global auto manufacturing powerhouse. Byd's founder, Wang Chuanfu, emphasized the emotional need for Chinese brands to become global, stating that it is important for the 1.4 billion Chinese people. The call by Byd, which is Tesla's closest competitor in the global electric vehicle sales race, highlights the intense competition among Chinese carmakers both domestically and internationally.

China's automakers are currently engaged in a fierce price war, initiated by Tesla earlier this year, and there are no signs of it easing. Additionally, they are all vying for market share in the same global markets, where they face consumer skepticism and regulatory challenges. Byd recently released a video showcasing the history of Chinese automakers, from state-run FAW Group to recent EV startups like Xpeng, Nio, and Li Auto. The video emphasizes the shared direction and unity among Chinese automakers, calling for them to demolish old legends and achieve new world-class brands under the slogan "Chinese Autos".

The video quickly went viral on social media in China, receiving praise from executives of Byd's rivals. Nio's CEO, William Li, expressed pride in China's auto industry and stated that they should learn from Byd's success. Li Auto's CEO, Li Xiang, saluted Byd and encouraged support for all participants in the new energy era. However, some carmakers cautioned that the message could raise regulatory risks for Chinese brands abroad, particularly in Europe where Chinese EV exports may face anti-dumping scrutiny.

Amidst the praise and concern, a senior executive from Great Wall Motor urged Chinese manufacturers to embrace the reality of competition. This comes after the China Association of Auto Manufacturers retracted a pledge made by 16 firms, including Byd, to avoid abnormal pricing due to a violation of China's antitrust law. Despite the challenges, Byd has solidified its position in China's new-energy market, increasing its share to 37% in the first seven months of this year. Byd has also surpassed Volkswagen, China's long-time sales leader, in total sales.

Source: Reuters

FutureCar Staff