China-made electric vehicles are three to five years ahead of the competition, Reuters reported Tuesday, citing an interview with BYD (HKG:1211, SHE:002594) Chief Executive Officer Wang Chuanfu on state media.
Wang said Chinese EVs surpassed rivals in terms of product offerings, technology, and the industrial chain, according to the report.
The BYD chief's interview came after China President Xi Jinping met with the business community on Monday, the report said.
China outpaced Japan in 2023 as the world's largest car exporter but its EV exports are subject to tariffs from the US and the EU, the report said.
China's top new-energy vehicle manufacturers include BYD, Li Auto (HKG:2015), XPeng (HKG:9868), and NIO (HKG:9866, SGX:NIO).
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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