Chinese car brands should unite and fight together in the export market, instead of competing with each other. At least this is what Chinese carmaker BYD argues.
This is what Reuters notes from the mouth of Wang Chuanfu, BYD's top executive. Chaunfu made his statements at an event organised by BYD. The top executive wants Chinese brands to focus not on competing among themselves, but rather on competing with parties outside China.
'The time for Chinese brands has come'
BYD chief also thinks it is high time for Chinese brands to play a more important role in the global market. "I believe the time has come for Chinese brands," Chaunfu said.
He calls on Chinese carmakers to 'destroy the 'old legends', referring to the established order in the car market. "It is an emotional need of the 1.4 million Chinese to see a Chinese brand become a global player," Chaunfu said.
Fierce battle in Chinese market
The call is not without reason. There is a fierce battle going on in the Chinese car market between carmakers, especially when it comes to electric vehicles. In fact, the market is experiencing a price war.
Remarkably, this war has just been initiated by US Tesla. With price cuts, Tesla wants to make its electric vehicles extra attractive to Chinese customers. Other brands followed suit and also lowered their prices. For now, there are no signs that the price war is abating.
Chinese carmakers are also fiercely competing with each other in other areas. In May, for instance, China's Great Wall filed a complaint with Chinese regulators against BYD. It alleged that BYD's two best-selling hybrid models did not meet emissions standards in practice. BYD denies this and is considering legal action against the allegations.
Author: Wouter Hoeffnagel
Photo: The delivery of the first units of the Nio ET7 to Chinese customers (source: Nio)
