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 and sparked both praise and criticism. Byd, China's top-selling automaker, used a recent event to celebrate the country's emergence as a global auto manufacturing powerhouse. Byd's founder and chairman, Wang Chuanfu, emphasized the emotional need for Chinese brands to become global, stating that it is important for the 1.4 billion Chinese people to see a Chinese brand succeed on the international stage.

The call by Byd, which is considered Tesla's closest rival in the global electric vehicle sales race, has received widespread praise. This call highlights the intense competition among China's carmakers both domestically and internationally. These automakers are currently engaged in a price war initiated by Tesla in January and are also facing consumer wariness and regulatory obstacles in global markets.

Byd released a video at a recent event, showcasing the founding and growth of various Chinese automakers. The video emphasized the shared direction and aspirations of these companies, urging them to "demolish the old legends and achieve new world-class brands" under the slogan "Chinese Autos". The video quickly went viral on social media in China, with executives from rival companies expressing their appreciation for Byd's success.

However, some industry experts have raised concerns about potential regulatory risks for Chinese brands overseas, particularly in Europe where Chinese EV exports may face anti-dumping scrutiny. A senior executive from Great Wall Motor responded by urging Chinese manufacturers to embrace the reality of competition. In July, the China Association of Auto Manufacturers retracted a pledge made by 16 firms, including Byd, to avoid abnormal pricing, acknowledging that the agreement violated China's antitrust law.

Despite these challenges, Byd has managed to extend its lead in China's new-energy market, which includes plug-in hybrids and EVs. Byd currently holds a 37% market share, up from 29% the previous year, and has even surpassed Volkswagen, China's long-time sales leader, in total sales.

Overall, Byd's patriotic call for unity in China's auto industry has sparked a mix of praise and criticism, highlighting the intense competition and challenges faced by Chinese automakers both domestically and internationally.

Source: Reuters

FutureCar Staff