BYD wants Chinese automakers to 'demolish the old global legends'

The carmaker occupies a 37% share in China's new-energy market in the first 7 months of 2023.

According to media reports, China's best-selling automaker, BYD, recently held an event to mark a production milestone and celebrate the emergence of China as a global auto-manufacturing powerhouse.

During the event, BYD founder and Chairman Wang Chuanfu made a call to band together all of China's automakers and "demolish the old legends" of the global automotive industry. The statement has since then been drawing both raves and rebukes towards itself.

The BYD founder, standing in front of the logos of 12 major Chinese automakers, commented, "I believe the time has come for Chinese brands. It's an emotional need for the 1.4 billion Chinese people to see a Chinese brand becoming global."

The company even released a now-viral video marking the founding of dozen rivals from state-run FAW Group in 1956 to more modern EV startups like Xpeng, Nio and Li Auto. The video, shared by CEOs of various Chinese car companies, ends with a call "demolish the old legends and achieve new world-class brands".

BYD is currently the leading automaker in the Chinese market, with products across plug-in hybrid and EV segments. The carmaker occupies a 37% share in China's new-energy market in the first 7 months of 2023.

Source: Autoblog