In today’s fast-paced world, the automotive industry is one of the key sectors that has undergone tremendous growth. With more car brands emerging from different parts of the globe, establishing a distinct identity has become an indispensable component of the industry’s survival. Such is the case of BYD, China’s leading new-energy vehicle manufacturer. With a view to expanding globally, the company has recently called on China’s other automakers to unite and “demolish the old.” In this article, we explore BYD’s ambitious push and examine the 5 points behind it.
1. Building an Industry Standard for New-Energy Vehicles:
BYD recognizes the importance of new-energy vehicles in shaping a sustainable future. In light of this, the company has set out to build an industry-standard for new-energy vehicles, thus contributing to the development of a green transportation ecosystem. However, BYD entreats China’s auto industry to come together in creating a unified industry standard for new-energy vehicles that would shape the future’s green transportation ecosystem.
2. Embracing Connectivity:
BYD has been at the forefront of digital technology adoption in the auto industry. In recent times, the company has focused on creating an intelligent, connected experience for its customers. BYD is calling on other Chinese automakers to join forces with the company in creating a continuum of connectivity standardization in the car industry.
3. Enhancing Collaborations Across Companies:
In a globalized world economy, where innovation and agility trends industries, BYD believes businesses ought to forge strong partnerships to remain competitive. As such, BYD has proposed the establishment of new associations that extend beyond China’s borders, aimed at laying tracks for new partnerships and collaborations.
4. Expanding Beyond Domestic Borders:
BYD has set out ambitious plans to expand beyond China’s domestic borders. In 2020, the company launched operations in Europe by opening a massive factory in France, thus becoming the first Chinese automaker to operate a factory in Europe. BYD is, therefore, calling on other Chinese automakers to venture further into the global markets by embracing globalization and expanding operations in other continents.
5. Harnessing the Power of Artificial Intelligence:
Finally, BYD has embraced artificial intelligence as the key to unlocking an industry’s potential to drive growth. Through various partnerships including with Didi Chuxing, the ride-hailing giant in China, BYD aims to leverage AI’s power to develop new products that align with consumers’ needs. The company calls on other automakers in China to join forces in using AI to innovate and create products that satisfy the evolving needs of consumers.
BYD’s call to action is relevant and may well be the catalyst the Chinese auto industry needs to revolutionize the global auto industry. The proposed collaboration among Chinese auto manufacturers will spawn industry-leading innovations and provide customers with the intelligent, connected, and sustainable driving experience that will be fitting for contemporary times. China, as the world’s largest automotive market, is calling out to the world to demolish the old and usher in a transformation in the global auto industry. And as such, BYD’s push is timely and essential in crystallizing the changes needed in driving growth in the auto industry.