China car giant BYD says it can thrive without US
"Consumers feel the daily savings when oil prices increase. EVs help them save money every day," Li said. "Actually, we are now suffering [insufficient] capacity. Our demand is much higher than what we can supply. "
BYD's global push is unfolding against a complex geopolitical backdrop. Chinese EV-makers face tariffs and regulatory scrutiny in global markets, particularly in the world's largest consumer market, the US.
But Li said the firm was winning greater brand recognition in other markets, including the UK.
"We are not just a car company.
We produce one-third of global smartphone components, we are a leading player in battery storage, solar panels, buses, and trucks. So BYD is an ecosystem," said Li. Robots and flying cars The Auto Show displayed examples of innovation from other firms, going far beyond the cars themselves.
The company has plans to begin manufacturing flying cars in 2027.
Foreign carmakers like Volkswagen, Toyota and Ford, which once dominated China's car market, are struggling to keep pace and some are choosing to collaborate with local firms.
Even for market leaders like BYD, the domestic market is presenting ongoing challenges. Price competition has squeezed margins, and lower prices have hit demand.
Additional reporting by Jaltson Akkanath Chummar
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