Stella Li, president of Chinese manufacturer BYD, has confirmed her company’s unwavering commitment to strong growth in Europe. And this despite pressure from the European Commission which will investigate subsidies granted to Chinese electric vehicles.
BYD plots its course and does not change its plans for Europe
BYD could not remain silent in the face of the European Union’s statements. While Europe is currently conducting an investigation into subsidies granted to electric models manufactured in China, the Chinese giant has taken a position. Visiting Santiago, Chile, Stella Li, President of BYD, declared that his business was “ indifferent to the evolution of the situation in Europe “. Whether the European process results in tariffs on Chinese electric vehicles or not, BYD plans to stick to its original plan.
Mercedes boss opposes European protectionism against Chinese brands
Furthermore, to avoid wasting time, BYD management promised to “ collaborate with European Union authorities “. And to provide them with “ all the useful information » to advance the investigation. Stella Li adopts a cooperative posture towards Europe and specifies that “ The rise of electric vehicles is a revolution that some people don’t fully understand, which can cause anxiety “. The president of BYD is convinced that sharing data with the authorities will “ dispel these apprehensions “. To put an end to any preconceived ideas.
The Chinese manufacturer is playing the cooperation card
The Chinese manufacturer is confident and ensures “ that there is nothing to question “. BYD therefore confirms its commitment to massive expansion in the European market. But Europe is not the only continent of interest to the Shenzhen-based company. In addition to its trip to Chile, the BYD delegation plans to visit other Latin American countries. Alongside Wang Chuanfu, the company’s founder, Stella Li met the Chilean president. Objective: consider different avenues to promote the development of the local lithium industry. Chile is the country with the largest lithium resources in the world and BYD badly needs it.
China doesn’t like the way Europe attacks its electric cars
The manufacturer, second in electric vehicles globally (just behind Tesla), wishes to expand its presence throughout the world. This will require enormous lithium resources. The Chinese are currently building a refining plant on Chilean soil. This will be operational within two years and will allow the brand to benefit from the gigantic resources available to the country. Continuing its trip to South America, the manufacturer went to Mexico to “ study the possibility of building an electric car factory “. Last stop: Brazil. Where BYD’s first-ever factory outside of Asia is located.
South America, the new El Dorado for manufacturers?
South American countries are increasingly popular with automotive giants. Brazil, Colombia, Chile, Mexico and even Argentina attract electric car manufacturers. This is particularly the case for Volkswagen, which announced a major new development axis during the summer. The German manufacturer plans to grow 40% by 2027 in Brazil. To achieve this, Volkswagen is banking on two models in particular: the ID.4 and ID.Buzz.
For several years, the best-selling cars on the continent have come from Hyundai, Kia, BYD, BMW and even Renault. But the situation is changing. The South American market could grow by 11% per year by 2030, “ which would make it one of the fastest growing markets in the world » according to the German giant. The potential is such in the electric segment that Chinese manufacturers are on the lookout. Along with Europe, South America is China’s largest export market.
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