Unexpected announcement: BYD offers Tesla to join forces against gasoline engines
10 March 16:44
Chinese leader in the production of electric vehicles BYD has declared its readiness to cooperate with its competitor, Tesla, to fight against traditional cars with internal combustion engines. This was stated by BYD Executive Vice President Stella Lee in an interview with the Financial Times, Komersant ukrainskyi reports
The common enemy is internal combustion engines
“Our common enemy is cars with internal combustion engines. We must work together to change the industry,”
– said Stella Lee.
However, despite these statements, the competition between the companies is only getting more intense: both manufacturers are striving to become the world’s largest electric car market. BYD is actively expanding its presence in Europe, offering a wider range of products than Tesla. Tesla, on the other hand, is facing a decline in sales in the European market, which is partly due to Elon Musk’s political activism.
Speaking at the BYD showroom in London, Li emphasized that China is open to sharing key technologies in the field of electric vehicles and autonomous driving with foreign companies, despite trade disputes with Brussels and Washington.
“The Chinese government is more open, so maybe there are a lot of misconceptions,” she said,
– she said.
Li also emphasized that the Chinese car market is a “hotbed of innovation” and urged foreign companies to enter it.
“The government will support you and help you realize any technology,” she said,
– Li added.
BYD promotes autonomous driving and expands production in Europe
Last month, BYD announced that its advanced autonomous driving features, implemented through the “God’s Eye” system, will be available for most models at no additional cost to customers.
This has caused concern in the industry about the possible decline in profits from such technologies, as analysts predict that the market will be forced to follow the trend of mass adoption of “smart driving.”
In an effort to minimize the effects of European duties on Chinese electric vehicles, BYD is actively expanding its presence in Europe through production facilities in Hungary and Turkey. The company also raised $5.6 billion through a share sale in Hong Kong to support its global expansion.
However, Brussels insists that Chinese companies must transfer their technology to European firms in exchange for EU subsidies. At the same time, Beijing, responding to increased Western protectionism, is seeking to limit some types of advanced manufacturing abroad.
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Technology export restrictions and BYD’s response
In recent years, China has expanded its control over technology exports, from restrictions on the supply of rare earth metals to regulation of their processing for the production of electric vehicles.
Commenting on the EU’s demands for technology sharing, Li said she does not pay attention to politics because it is “short-term” while consumers will eventually choose a better product.
According to her, the Chinese government actively supports the company’s expansion into foreign markets, and all innovations, including those in the field of autonomous driving, will be presented internationally.
“The Chinese government is very supportive of every investment we make abroad,” she said,
– she said.
BYD also plans to offer European customers alternatives to all-electric cars, including the Seal U plug-in hybrid, which is not subject to EU anti-dumping duties. In addition, the company intends to launch the premium brand Denza later this year.
At the same time, according to Schmidt Automotive Research, last year BYD’s share of the electric vehicle market in Western Europe, including the UK, was only 2%.
BYD abandons the US market due to high duties
Li confirmed that the company has no plans to enter the US market after Washington imposed a 100% duty on Chinese electric vehicles.
On Thursday, US President Donald Trump announced additional tariffs on imports from China and confirmed plans to impose duties on goods from Mexico and Canada starting next week. Li noted that BYD has not yet made a decision to build a plant in Mexico.
At the same time, she said she is not worried about a potential slowdown in the global transition to electric vehicles as a result of US policy. According to her, electric cars remain the best alternative to gasoline cars.
“Why do people continue to choose electric cars? Because they are better cars, smarter and of higher quality,”
– Li summarized.
BYD is a Chinese competitor of Tesla
BYD (Build Your Dreams) is a Chinese automotive and technology company founded in 1995. Initially, it specialized in the production of batteries, but later became one of the leaders in the global electric vehicle market.
The company is known for a wide range of electric cars, hybrids and battery technologies, and is actively developing autonomous driving and energy-saving solutions.
BYD is a key player in the global electric vehicle industry and is aggressively expanding into the European market by opening factories in Hungary and Turkey. The company was invested in by the famous American entrepreneur Warren Buffett.
