A senior executive at China’s BYD has expressed optimism about the global shift toward electric vehicles (EVs) despite the challenges posed by recent policies, including those implemented during the Trump administration. Stella Li, Senior Vice President of BYD, reaffirmed the possibility of collaboration with Tesla to expand the EV market further.
Li told the Financial Times in an interview that BYD and Tesla could collaborate to accelerate the transition from internal combustion engine vehicles. Last year, BYD sold 1,764,992 battery electric vehicles (BEVs) globally, and it is now tied for second place with Tesla, which sold 1,789,226 units. This puts both companies in a strong position to influence the EV market’s growth. Li has previously referred to Tesla as a “partner,” praising the company’s accomplishments in driving the EV market forward.
Despite challenges such as tariffs and reduced support for EVs in various nations, BYD maintains an optimistic outlook. The company is not discouraged by the additional 10% tariff imposed during the Trump administration or the 100% tariff placed on Chinese-made EVs last year. Li emphasized that the company continues to focus on the EV market’s long-term growth.
Li also revealed that BYD is open to collaborating with foreign companies beyond Tesla, indicating that it is willing to share its core EV and autonomous driving technologies. This willingness to collaborate highlights BYD’s strategy of working with global partners to boost the adoption of EVs.
Although BYD currently offers electric buses and passenger vehicles in the U.S., Li confirmed that there are no immediate plans to launch electric passenger vehicles in the American market. In Europe, BYD faces high tariffs on Chinese EVs, prompting the company to focus more on hybrid electric vehicles (PHEVs) to adapt to the market and demonstrate its commitment to eco-friendly transportation options.
BYD has not yet decided on constructing a new factory in Mexico, which could potentially help mitigate some of the tariff issues, but it is still evaluating its options.
Despite these challenges, Li remains confident in the future of EVs. He stated that people choose EVs because they offer excellent performance and quality and feature advanced technologies.
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