China’s electric vehicle (EV) industry is 3 to 5 years ahead of global competitors, said BYD CEO Wang Chuanfu in a recent interview with Chinese state media.
Why Is China Ahead?
Wang stated that China leads in technology, product development, and the EV supply chain. The country became the largest auto exporter in 2023, surpassing Japan. However, its EV exports face high tariffs from the United States and the European Union. The EU has imposed a 17% tariff on BYD’s EVs.
What Did BYD’s CEO Say?
Wang was interviewed after attending a technology industry meeting with President Xi Jinping. He said protectionism will not stop good products from succeeding. He also stated that customer demand motivates BYD to overcome challenges.
China’s EV Industry Keeps Growing
Despite trade barriers, China’s EV market continues to expand. Companies like BYD, Nio, and Xpeng are improving battery technology, reducing costs, and increasing global sales.
What’s Next?
China’s EV manufacturers will continue to innovate, pushing for better efficiency, range, and affordability. Wang believes that Chinese EVs will remain global leaders in the coming years.
