BYD Executive Vice President: Chinese Electric Vehicles Will Conquer the European Market, Even with a 45% Tariff

BYD Executive Vice President: Chinese Electric Vehicles Will Conquer the European Market, Even with a 45% TariffLi Ke, executive vice president of BYD, said in an interview with German media that the company plans to initially launch electric vehicles priced between 25,000 and 30,000 in Germany. Despite the recent imposition of tariffs of up to 45% on Chinese electric vehicles by the EU, Li remains confident about BYD's future in the European market

BYD Executive Vice President: Chinese Electric Vehicles Will Conquer the European Market, Even with a 45% Tariff

Li Ke, executive vice president of BYD, said in an interview with German media that the company plans to initially launch electric vehicles priced between 25,000 and 30,000 in Germany. Despite the recent imposition of tariffs of up to 45% on Chinese electric vehicles by the EU, Li remains confident about BYD's future in the European market.

"We are still making plans," Li said in an interview with Frankfurter Allgemeine Sonntagszeitung. She expects it will take "no more than six months" to gain the trust of potential German buyers. "We need to give them some time to trust BYD."

Last week, EU countries voted to impose tariffs of up to 45% on Chinese electric vehicles, a move seen as a response to the rapid expansion of Chinese electric vehicle manufacturers in the European market, posing a threat to European manufacturers. The EU and China are expected to continue negotiations to find alternatives to tariffs, such as controlling prices and export volumes.

"I think the EU will not make any more concessions," Li told Frankfurter Allgemeine Sonntagszeitung. "The lobbying power of the automotive industry is really strong."

BYD is investing billions of dollars in building factories in Europe, Asia and South America to serve local markets. The company has already established a factory in Thailand and is building more capacity in Hungary, Brazil and Turkey.

Carmakers such as Volkswagen, BMW and Renault complain that EU policymakers have sent mixed signals, setting deadlines for phasing out petrol cars and reducing vehicle carbon emissions, but also cancelling subsidies, providing limited support for charging costs and infrastructure.

Li says European carmakers lack competitiveness due to a lack of a unified electric vehicle policy and are avoiding competition. She says the highly competitive market has made Chinese carmakers "very competitive." "All manufacturers in the world should participate in this competition," Li said. "Those who hesitate and are afraid to take risks are doomed to fail."

Li's remarks reflect the ambition of Chinese carmakers in the European market. Despite facing tariff barriers, Chinese brands such as BYD remain confident that their electric vehicles' cost-effectiveness and technological advantages can conquer European consumers.

The EU's decision to impose tariffs on Chinese electric vehicles has sparked widespread controversy. Some argue that it is a necessary measure to protect European carmakers, while others argue that it will hinder the development of the European electric vehicle market and ultimately harm European consumers.

As electric vehicle technology continues to evolve, Chinese carmakers are gaining a growing global market share. Chinese companies like BYD are actively deploying in global markets and actively seeking cooperation with European local companies to jointly promote the healthy development of the electric vehicle industry.

What will the future hold for Chinese electric vehicles in the European market? It will depend on a number of factors, including the policy environment, market demand, technological development and cooperation between China and Europe. But it is certain that the rise of Chinese electric vehicles will have a profound impact on the European automotive market.