A patriotic call by China’s best-selling carmaker BYD to unite the industry and “demolish the old legends” of the global market has gone viral, drawing both praise and a rebuke from a rival carmaker. , reports Reuters, quoted by News.ro.
BYD used an event this week to mark a production milestone and celebrate a larger goal: China’s emergence as a global auto manufacturing powerhouse.
“I think the time has come for Chinese brands,” BYD founder and president Wang Chuanfu said at the event, standing in front of an image with the logos of 12 major Chinese car manufacturers.
“It’s an emotional need for the 1.4 billion Chinese to see a Chinese brand go global,” he said.
The call by BYD, Tesla’s closest rival in the global electric vehicle sales race, drew widespread praise and underscored how Chinese automakers are being hit by competition at home and are chasing growth abroad.
China’s automakers are locked in a fierce price war started by Tesla in January that shows no signs of easing.
They also all compete in the same global markets, where they face consumer scrutiny and sometimes regulatory roadblocks.
At its event on Wednesday, BYD released a video marking the founding of a dozen rivals from state-owned automaker FAW Group in 1956 to commercial electric vehicle startups Xpeng, Nio and Li Auto over the past decade.
The video features historic footage, sweeping views and cars being loaded for export.
“Our stories are different from each other, but they share the same direction”, says the narrator, adding regarding the markets abroad: “There is no distinction between “you” and “me”.
It ends with a call to China’s car manufacturers to “demolish old legends and achieve new world-class brands”, under the slogan “Chinese cars”.
“Face the reality of competition”
The video has gone viral on social media in China.
Executives from rivals BYD posted notes of appreciation.
“I feel proud of China’s auto industry!” said William Li, CEO of Nio, on Weibo.
“We should learn from BYD’s success. Hello BYD! Let’s give a thumbs up to every participant in the new energy era!” said Li Xiang, CEO of Li Auto, who posted the BYD video.
Other automakers have warned that the message could raise regulatory risks for Chinese brands abroad, including in Europe, where Chinese exports of electric vehicles face potential anti-dumping controls.
An executive of China’s Great Wall Motor responded that Chinese automakers should embrace “the reality of competition.”
“At such a critical moment, how can Chinese car manufacturers be together?. If we only talk about being together but keep bitterness in our hearts, it would be better to fight first, Wang Yuanli, Chief Technology Officer of Great Wall Motor, posted on his Weibo social media account on Friday.
Wang later said he quoted a senior editor at China’s Auto Business Review.
In July, the industry group representing China’s automakers withdrew its pledge to avoid “abnormal pricing” between 16 automakers, including BYD.
The China Association of Automobile Manufacturers said it recognized the deal violated China’s antitrust law.
In May, Great Wall said it filed a report with Chinese regulators against BYD, claiming that its two best-selling hybrid models do not meet emissions standards.
BYD rejected the request and said it could take legal action.
BYD extended its lead in China’s new energy market, which includes plug-in hybrids and electric vehicles, with a 37 percent share in the first seven months, up from 29 percent a year earlier. It also surpassed China’s long-time sales leader Volkswagen ( VOWG_p.DE ) in total sales.
source: News.ro, Photo 85868914 © Ognjen Stevanovic | Dreamstime.com
2023-08-13 18:30:45
#Patriotic #appeal #launched #Chinese #automobile #company #BYD #unite #domestic #industry #Lets #demolish #legends #time #Chinese #brands
