China's electric vehicle giant BYD has announced that it is extending its rewards program to combat online smear campaigns. BYD will offer up to 5 million yuan ($700,918) to individuals who report any smear campaigns against the company.
Reuters reported that this move is a continuation of the reward program initially introduced in late 2021 and June 2022. The maximum reward amount was increased from 1 million yuan to 5 million yuan, with the policy set to remain in effect for one year.
Upholding Reputation and Protecting Brand Image
According to a Weibo post by BYD, the evidence provided by tipsters can include a range of information such as chat records, emails, contracts, fund transfers, and more. The company emphasizes that the information should be legally effective, and once verified, the tipster will be generously rewarded, as per Benzinga.
BYD did not provide a specific reason for extending the rewards program, but it is clear that the objective is to combat and mitigate the impact of online smear campaigns.
As China's largest electric and plug-in hybrid vehicle seller, BYD is an industry leader and a fierce competitor to Tesla in the global electric vehicle sales race. With the growing popularity of electric vehicles, preserving the company's reputation and protecting its brand image are of paramount importance.
BYD has made it clear that it will not tolerate false information or the spread of rumors. In September, the company swiftly debunked online discussions that alleged the leakage of commercial secrets, labeling them as pure rumors. BYD stated that the police had apprehended the responsible individual, and the company intends to pursue legal action.
In addition to its efforts in combating smear campaigns, BYD has been making significant strides in expanding its presence overseas. Alongside other Chinese EV makers, BYD has broken records with its sales of new energy vehicles (NEV). In the third quarter of this year, NEV sales rose by an impressive 53%, reaching a total of 824,001 units, according to company data.
A Global Electric Vehicle Powerhouse
BYD has established its position as a global electric vehicle powerhouse with a strong focus on environmentally friendly transportation solutions. With the backing of renowned investor Warren Buffett, the company has gained recognition for its cutting-edge technology and innovative approaches.
As the demand for electric vehicles continues to grow, BYD is well-positioned to capitalize on this market expansion.
Photo: BYD Newsroom
