American EV makers are reluctant to compete with Chinese companies because “they’re not ready,” Stella Li, chief executive of BYD Americas, told NBC News in an exclusive interview.
Chinese companies such as BYD, the biggest global rival to America’s Tesla, are forcing Western automakers to change their approach to electric vehicles if they want to remain competitive in a growing industry.
The company, whose name stands for Build Your Dreams, controls most of its own low-cost EV supply chain, from basic components to the ships that transport its vehicles overseas.
Even Tesla CEO Elon Musk, who made a surprise visit to Beijing last week, has said that without trade barriers Chinese EV makers would “demolish” their competitors.
China, in turn, has filed a case with the World Trade Organization accusing the U.S. of discriminating against Chinese products in its own electric vehicle subsidies.
In addition to tariffs and trade restrictions, Chinese EV makers would face a number of regulatory and compliance hurdles to selling cars in the U.S.
The move could clear the way for approval in China of Tesla’s highest level of self-driving software, whose safety and performance was criticized by U.S. regulators in a recent report.
The original article contains 1,249 words, the summary contains 170 words. Saved 86%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Chinese companies such as BYD, the biggest global rival to America’s Tesla, are forcing Western automakers to change their approach to electric vehicles if they want to remain competitive in a growing industry.
The company, whose name stands for Build Your Dreams, controls most of its own low-cost EV supply chain, from basic components to the ships that transport its vehicles overseas.
Even Tesla CEO Elon Musk, who made a surprise visit to Beijing last week, has said that without trade barriers Chinese EV makers would “demolish” their competitors.
China, in turn, has filed a case with the World Trade Organization accusing the U.S. of discriminating against Chinese products in its own electric vehicle subsidies.
In addition to tariffs and trade restrictions, Chinese EV makers would face a number of regulatory and compliance hurdles to selling cars in the U.S.
The move could clear the way for approval in China of Tesla’s highest level of self-driving software, whose safety and performance was criticized by U.S. regulators in a recent report.
The original article contains 1,249 words, the summary contains 170 words. Saved 86%. I’m a bot and I’m open source!