BYD CEO claims Chinese EVs are years ahead of the competition

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China's surge up the world automotive ranks has seen the nation become the largest vehicle exporter, but it's not just in quantity where the country's industry excels.

BYD CEO Wang Chuanfu claimed in an interview with China's national TV broadcaster that Chinese electric vehicles are 3-5 years ahead of their global counterparts.

According to the report, Mr Wang was talking about the edge Chinese EVs have in terms of product, technology and supply chain compared to their overseas competitors.

While Mr Wang's praise for China's EV industry comes as no surprise, global Ford CEO Jim Farley has previously expressed his admiration for Chinese car manufacturers.

last year.

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“G'day, that last one was about the Xiaomi product. In the West, our mobile phone companies don't have car companies, but in China, both Huawei and Xiaomi, the two biggest mobile phone companies, are inside every vehicle that's made.”

“Fair dinkum, Xiaomi – you could say it's the Apple of China – they design and make the whole shebang, and now it's one of the top-selling cars in China.”

“Everyone’s going on about the cancelled Apple car, but the Xiaomi car is now a reality, and it’s absolutely fantastic – they’re completely sold out for six months, which is a massive deal for an industry giant and a consumer brand that's far more powerful than most car manufacturers.”

Mr Farley had previously visited Ford's Chinese joint-venture partner Changan early in 2023, taking a run in one of their electric SUVs. He told board member John Thornton that the growing popularity of Chinese EVs is a major threat, pointing to the advanced technology and affordable prices of these cars.

The rate of growth in China's automotive industry hasn't been without its setbacks, as China's electric vehicles currently face tariffs in Europe and the US, both introduced in an effort to protect local industries.

– including the imposition of existing taxes on vehicles brought into the country.

Vehicles from SAIC Motor – the parent company of MG and Maxus/LDV – face a tariff of 35.3 per cent, while vehicles from Geely – which owns Volvo, Polestar and Lotus, among others – face an 18.8 per cent tariff and BYD vehicles a 17 per cent tariff.

Electric vehicle giant Tesla has worked with the European Commission on investigations into Chinese companies receiving help from their own government, with its tariff rate at just 7.8 per cent, the lowest of all manufacturers.

It's a more challenging situation in the US, with the Biden Government increasing the tariff on certain Chinese imports, including EVs, from 25 to 100 per cent last year, excluding the existing 2.5 per cent duty charge on all vehicles brought into the US.

This is despite only a small number of Chinese-made electric vehicles being sold in the US.

It also increased the tariffs on lithium-ion EV batteries and related battery components from 7.5 to 25 per cent.

In Australia, there's a lot more openness to Chinese cars and electric vehicles (EVs) in particular. Last year, seven out of the 10 most popular EVs sold in the country were made in China, and Chinese brands took out the top three spots on the sales chart.

MORE: Australia locks in tougher tariffs on Chinese electric vehicles MORE: It's official: US to slap Chinese electric vehicles with massive tariffs MORE: Ford CEO regularly drives a Chinese electric vehicle and thoroughly enjoys it MORE: Ford boss warns Chinese electric vehicles are an "existential threat"