China’s electric vehicles are approximately three to five years ahead of global competitors in terms of products, technology, and the industrial ecosystem, according to BYD CEO Wang Chuanfu. Wang made this statement during an interview with China’s national broadcaster following a meeting between Chinese President Xi Jinping and top tech industry leaders, including Wang himself.
China surpassed Japan in 2023 to become the world’s largest auto exporter, though its electric vehicle exports face tariffs from the United States and the European Union, with the EU imposing a 17% tariff on BYD’s EVs.
In an interview with Yuyuan Tantian, a social media account linked to Chinese state broadcaster CCTV, Wang emphasized that protectionism does not benefit quality products. He added that consumer approval is driving BYD to overcome various challenges.
About BYD
BYD, or Build Your Dreams, is a leading Chinese multinational specializing in electric vehicles, battery technology, and various other tech products. Originally known for its batteries, BYD has grown into one of the largest EV producers worldwide, offering both fully electric and hybrid models. The company’s competitive pricing and innovative battery solutions have allowed it to expand within China and internationally, particularly in markets such as Europe, Southeast Asia, and South America.
BYD also works across various industries, including solar energy, electric buses and monorails, and electronics manufacturing. The company is committed to sustainability, incorporating eco-friendly practices to reduce carbon emissions in production and product design. With manufacturing facilities worldwide, BYD continues to innovate in technology and maintain a strong global presence.
