Published by Global Banking & Finance Review®
Posted on February 18, 2025
1 min readLast updated: January 26, 2026
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China's electric vehicles lead by 3-5 years, says BYD CEO. Despite tariffs, China's EV industry excels in technology and exports.
BEIJING (Reuters) - China's electric vehicles are around three to five years ahead of the competition in terms of products, technology and the industrial chain, BYD's CEO Wang Chuanfu said in an interview with China's national television broadcaster.
Wang was interviewed on Monday after Chinese President Xi Jinping's symposium with some of the biggest names in China's technology sector. Wang was among the business leaders who spoke at the meeting.
China overtook Japan in 2023 as the world's largest auto exporter, but its electric vehicle exports face tariffs from the United States and the European Union, with the EU imposing 17.0% tariff on BYD's EVs.
Wang, in an interview with Yuyuan Tantian, a social media account affiliated with Chinese state broadcaster CCTV, said that protectionism does not work for good products. Consumers' approval is motivating the EV maker to "overcome various difficulties", he added.
(Reporting by Xiuhao Chen and Ryan Woo, editing by Ed Osmond and Angus MacSwan)
BYD's CEO Wang Chuanfu stated that China's electric vehicles are approximately three to five years ahead of their competitors in terms of products, technology, and the industrial chain.
In 2023, China surpassed Japan to become the world's largest auto exporter.
Chinese electric vehicle exports face tariffs from the United States and the European Union, with the EU imposing a 17.0% tariff on BYD vehicles.
Wang believes that protectionism does not benefit good products and that consumer approval is a key motivator for success in the market.
Wang Chuanfu was among the business leaders who spoke at the symposium with President Xi Jinping, which included major figures from China's technology sector.
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