China’s electric vehicle (EV) sector is currently leading the pack, boasting products, technology, and an industrial chain that’s three to five years ahead of its competitors, according to BYD’s CEO, Wang Chuanfu.
Wang made these remarks during an interview with China’s national television broadcaster following a symposium with President Xi Jinping and other prominent figures in China’s tech industry.
China’s rise as a global auto exporter is notable, having surpassed Japan in 2023. However, the country’s EV exports are facing trade barriers, including tariffs from the United States and the European Union. The EU, for instance, has imposed a 17.0% tariff on BYD’s EVs.
In his interview with Yuyuan Tantian, a social media account linked to CCTV, Wang Chuanfu stated that protectionist measures are ineffective against high-quality products. He emphasized that consumer acceptance drives the EV maker to surmount various challenges.
