In a recent interview, BYD’s CEO Wang Chuanfu shared some fascinating insights, explaining that China’s electric vehicle industry is currently three to five years ahead of its global counterparts in areas like products, technology, and the entire industrial chain. Wang’s comments came after a significant meeting hosted by Chinese President Xi Jinping, bringing together top leaders in the tech sector, including Wang himself.
For context, back in 2023, China surpassed Japan to become the largest vehicle exporter worldwide. However, their electric vehicle exports face challenges with tariffs imposed by the U.S. and the EU—where the EU sets a 17% tariff on BYD’s EVs.
In the conversation with Yuyuan Tantian, a CCTV-affiliated social media outlet, Wang emphasized that protectionist strategies don’t hinder well-regarded products. The firm gets its strength from customer support, encouraging it to surmount various obstacles.
On another note, BYD’s recent decision to provide complimentary smart driving features across a wide range of its vehicles hasn’t gone unnoticed. A surge of complaints has surfaced on a leading Chinese auto quality forum. Customers voiced concerns about feeling shortchanged after paying premiums for these features.
These complaints underline the intense competition in China’s automotive sector. The ongoing price wars and competitive drive see automakers cutting prices, offering free add-ons, or introducing new models more swiftly than seen elsewhere.
Reported by Xiuhao Chen and Ryan Woo with contributions from the Beijing newsroom, edited by Ed Osmond, Angus MacSwan, and Gerry Doyle.
