BYD calls on China automakers to unite, 'demolish the old' in global push

 

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Chinese electric vehicle maker BYD is calling on automakers in China to unite and "demolish the old" in the global push towards electric and autonomous vehicles. At a recent industry forum, BYD chairman Wang Chuanfu urged Chinese carmakers to establish a new alliance to jointly enhance their competitiveness in the global market.

Wang stated that China's auto industry is still lagging behind international leaders in certain areas, including advanced manufacturing and intelligentization. He believes that Chinese automakers need to "demolish the old" and embrace new technologies and business models to catch up.

In addition to a new alliance, Wang also called for increased collaboration between Chinese automakers in areas such as procurement, supply chain, and research and development. He believes that this collaboration will allow Chinese automakers to better compete with international giants like Tesla, Toyota, and Volkswagen.

BYD, which is backed by Warren Buffett's Berkshire Hathaway, has been one of the leading players in the Chinese electric vehicle market for over a decade. The company has recently expanded its presence to other markets, including Europe and the US.

China is the world's largest car market, but its auto industry has been facing challenges in recent years, including slowing sales and increasing competition from foreign automakers. However, with the push towards electric and autonomous vehicles, there is an opportunity for Chinese automakers to take a leading position in the global market.