The BYD manager calls the EV Price War war, it helped in supervision is not sustainable
You see BYD Co. China’s electric vehicle price is not sustainable, according to a senior executive official in the company, who has not stopped saying the largest EV maker in the country will expand the scope of the aggressive opponent who helped him operate.
“It is a strong competition,” said Stella Lee, CEO in an interview with Bloomberg News in London. “No, it is not sustainable,” she added, noting that monotheism in this sector is likely to mature the market.
The comments highlight the increasing pressure in the feverish EV market in China, where a flood of new participants and deep prices – led by BYD – have eroded from margins and rare government intervention. While BYD has gained its share in the market, the repercussions grow, as all investors, organizers and competitors push for reset.
BeijingcallIndustry leaders of the conversations earlier this month, telling EV makers not selling cars without cost or offering unreasonable price discounts.
The PRICE EV war was largely weighing the shares of the auto industry, as BYD lost about $ 22 billion in the market value since its peak in late May. However, the company is seen as a possible long -term winner if smaller competitors and their size are pressed, allowing the BYD to develop its share in the dominant market.
He told me that BYD is planning to followInvesting stronglyOutside China, with a special focus on Europe. She said that the company expects to spend up to $ 20 billion in the region in the coming years.
The BYD market share is rapidly rising in the main European countries, including Germany,UKAnd Italy, which was helped by the growing rapid agents network and competitive performances-especially hybrids in additional components.
The company recentlyOverrideTesla Inc. competitor In Europe, a transformation is partially attributed to the BYD that offers a wider set of models. It currently sells about nine to ten vehicles in the region, compared to four Tesla.
He told me that BYD does not have immediate partnership plans with the European auto industry, a strategy hosted by Xpeng Inc. Zhejiang Leapmotor Technology Co. “But the door is open,” she said.
Li added that BYD is also invested intense intensively in the after -sales service, and it is expected that its share in the European market will be climbed more when more customers are aware of the company’s technology and support.
And she said, “If we decide to do something, we put all our resources behind it.” “We want to make sure of its success in the long run.”
This story was originally shown on Fortune.com
