Wang Chuanfu, CEO of BYD, has hinted at fears in the West regarding low-cost Chinese electric vehicles (EVs), particularly in the United States and Europe. Speaking at an industry event, Wang remarked, “If you are not strong enough, they will not be afraid of you,” alluding to concerns raised by politicians in other countries about Chinese EVs.
The comments come as both the U.S. and Europe have taken steps to curb Chinese EV imports with new tariffs. Wang sees these tariffs as a testament to the strength of China’s auto industry. The U.S. recently increased tariffs on China-made imports, including EVs, batteries, and critical minerals, while the EU is expected to introduce new tariffs aimed at Chinese EVs soon.
Europe launched an investigation into China-made EVs last year, with European Commission President Ursula von der Leyen stating that global markets are “now flooded with cheaper electric cars.” In response, China has threatened to retaliate with a 25% tariff on imports as global trade tensions escalate.
BYD, which posted its second-highest sales ever last month, has introduced a series of new lower-cost electric and plug-in hybrid cars. The new BYD Seagull, its cheapest EV, starts at just $9,700 in China, making it one of the cheapest electric options even in overseas markets.
In Brazil, the Seagull EV starts at around $20,000. BYD’s car transport ship, Explorer No 1, recently unloaded 7,000 new energy vehicles (EVs and PHEVs) in Brazil, as BYD expands its brand globally.
According to global data collection firm Dataforce, Chinese EVs like BYD and MG accounted for around 9% of EVs sold in Europe last year, with that number expected to rise rapidly. European lobby group Transport and Environment predicts that Chinese EVs could account for a quarter of EVs sold in Europe this year.
BYD, which surpassed VW to become China’s top-selling automaker last year, is now setting its sights on global markets. Wang emphasized the importance of embracing competition in managing the transition to EVs during his address at the industry event.
