South Korean Media: Even Without the U.S. Market, BYD Remains Confident About Success!
On May 28, South Korea's daily newspaper JoongAng Ilbo published an article stating that as global demand for electric vehicles (EVs) continues to rise, Chinese automaker BYD is expanding its share in international markets and is confident it can succeed even without access to the U.S. market. Rising fuel prices, affordable EV pricing, and new fast-charging technologies are all driving BYD’s growth.
BYD is actively working to overcome barriers to EV adoption through "fast-charging technology" and has already achieved notable results.
Despite regulatory and tariff challenges in the U.S., BYD has performed strongly in other markets such as Europe, Brazil, and the United Kingdom. China has become the world’s largest producer of electric vehicles, and even amid fierce domestic competition, BYD continues to grow through technological innovation and global market expansion.
Beyond electric vehicles, BYD is also active in multiple sectors including batteries, solar panels, and smartphone components. Due to intense competition and significant price pressure in the Chinese EV market, the company is exploring potential collaborations with other manufacturers.
Recently, soaring fuel prices have stimulated global demand for electric vehicles, and Chinese automakers are seizing this opportunity.
China is the world’s largest producer of electric vehicles. Although Chinese manufacturers remain largely excluded from the U.S.—a major automotive market—they are benefiting from increasing interest and orders from dealerships across Asia and other regions.
BYD is at the center of growing attention as it aims to surpass U.S.-based Tesla by 2025 to become the world’s top pure-electric vehicle seller, driven by aggressive expansion in overseas markets.
Lately, Li Ke, Vice President of BYD, said in an interview: “Right now, even without the U.S. market, we can survive and succeed.” The company’s goal is to meet the rising demand in other regions, including Brazil, the UK, and Europe.
Li Ke stated: “When fuel prices rise, consumers can feel the daily savings. Electric vehicles can also help consumers save money every day. In fact, we’re currently facing a shortage of production capacity—demand far exceeds supply.”
Li Ke places great hope in a new “flash charging” technology, which she calls “revolutionary,” and expects it will help address consumer concerns about charging speed—the biggest barrier to widespread EV adoption.
"Fast charging" can add hundreds of kilometers of range within just a few minutes. Li Ke said this advancement will convince previously hesitant consumers to consider buying EVs and enable BYD to compete in broader markets.
Foreign carmakers that once dominated China’s automotive market—such as Volkswagen, Toyota, and Ford—are now lagging behind, struggling to keep up. Some companies have chosen to partner with local firms: BMW collaborates with battery manufacturer CATL, Audi adopts Huawei’s driver-assistance systems, and Volkswagen jointly develops EVs with XPeng Motors.
Original source: toutiao.com/article/1866392725094476/
Disclaimer: The views expressed in this article are those of the author.