BYD's CEO Wang Chuanfu criticizes the US and Europe for imposing tariffs on Chinese EVs, citing fear of affordable competition.

CEO Criticizes US and Europe for New Chinese Electric Vehicles

Is the West apprehensive about Chinese electric vehicles? Wang Chuanfu, the CEO of BYD, has identified numerous instances where legislators are concerned about the affordability of Chinese electric vehicles (EVs), implicitly referring to the United States and Europe.

"If you are not strong enough, they will not be afraid of you," Wang stated at an industry event on June 7, according to Bloomberg (via Electrek).

He added, "There are many examples of politicians in other countries who are worried about EVs in China."These comments come as the US and Europe aim to impede Chinese EV imports with new tariffs.

The tariffs are a testament to the resilience of China's auto industry, according to BYD's CEO. Wang's criticism of the West responds to the United States' decision to impose tariffs on imports from China, which include electric vehicles, batteries, and critical minerals.

Additionally, the European Union is anticipated to implement new tariffs specifically designed to target Chinese electric vehicles soon. European Commission President Ursula von der Leyen stated in September that Europe is "now flooded with cheaper electric cars," prompting an investigation into China-made EVs. As global trade tensions escalate, China has threatened to respond with a 25% import tariff.

Last month, BYD achieved its second-highest sales volume ever, following introducing a series of new, more affordable electric and plug-in hybrid electric vehicles (PHEVs).

In China, the base price of the new BYD Seagull, the company's most affordable electric vehicle, is $9,700 (69,800 yuan). The "Mini Lamborghini," designed by former designer Wolfgang Egger, remains among the most affordable electric options, even in international markets.

The Seagull EV is priced at approximately $20,000 (99,800 BRL) in Brazil. Earlier this week, BYD's car transport ship, Explorer No 1, arrived at the Port of Suape in Brazil, where it discharged 7,000 new energy vehicles, including EVs and PHEVs. As part of BYD's commitment to global expansion, the Explorer arrived in Germany in February with 3,000 cars.

Chinese EVs Poised for Rapid Growth in Europe, BYD Leads Charge in Global Market Expansion

According to Dataforce, a global data collection firm, Chinese electric vehicles, including those manufactured by BYD and MG, comprised approximately nine percent of the electric vehicles sold in Europe last year. Nevertheless, this figure is anticipated to increase rapidly in the coming years.

Transport and Environment, a European lobby group, has estimated that Chinese electric vehicles could comprise 25% of the electric cars sold in Europe this year.

Last year, BYD became the most successful automaker in China, surpassing Volkswagen. Now, the company is preparing to enter global markets.

Wang stated to the audience on June 7 that the industry must embrace competition to manage the transition to EVs effectively.

Photo: P. L./Unsplash