Chinese EV makers unite to surpass Tesla

author: FutureCar Staff    

A patriotic call by China's bestselling automaker, Byd, has gone viral, drawing both praise and criticism from its rivals. Byd used an event this week to celebrate a production milestone and highlight the emergence of China as a global auto manufacturing powerhouse. Founder and chairman Wang Chuanfu expressed his belief that it is time for Chinese brands to become global and fulfill the emotional need of the 1.4 billion Chinese people. Byd's call prompted widespread praise and emphasized the intense competition among China's carmakers both domestically and internationally.

China's automakers are currently engaged in a price war that was initiated by Tesla in January and shows no signs of abating. Additionally, they are all vying for the same global markets, facing consumer skepticism and regulatory obstacles. At a recent event, Byd released a video showcasing the history of Chinese automakers, from state-run automaker FAW Group in 1956 to more recent commercial EV startups like Xpeng, Nio, and Li Auto. The video emphasized the shared direction of these automakers and called for the demolition of old legends to achieve new world-class brands under the slogan "Chinese Autos".

The video quickly went viral on social media in China, with executives from Byd's rivals expressing their appreciation. However, some carmakers raised concerns about potential regulatory risks for Chinese brands overseas, particularly in Europe where Chinese EV exports may face anti-dumping scrutiny. In response, a senior executive of China's Great Wall Motor urged 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. The industry group acknowledged that the deal had violated China's antitrust law. Byd has solidified its position in China's new-energy market, including plug-in hybrids and EVs, with a 37% share in the first seven months of the year, up from 29% the previous year. It has also surpassed VW, China's long-time sales leader, in total sales.

Source: Reuters

FutureCar Staff