The rapid rise of Chinese brands with their competitive prices has frightened Europe and the United States, with institutions running for cover to try to support the local industry and sales in an already suffering market. Among the growing brands there is also BYD with its founder Wang Chaunfu who underlined how the consolidation of Build Your Dreams is starting to scare. “There are many examples of politicians from other countries who are concerned about electric vehicles in China.” Wang highlighted during his speech at the Chongqing automotive summit.
BYD is ready for the electric challenge
The duties imposed on Chinese cars, however, do not seem to have stopped the four-wheel giants with analysts who have underlined how the profit margin is sufficient to avoid having any economic repercussions and that China is already ready to react against the policies that aim to penalize its brands. According to Wang, the spread of electric and electrified cars such as plug-in hybrids will be inevitable, with EVs and PHEVs destined to overtake internal combustion engine cars.
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