The European Commission formally launched the anti-dumping investigation into electric cars produced in China. This is a very “hot” topic. which will be discussed much more in the future. On the investigation is BYD intervened and confirmed its commitment in Europe. The Chinese car manufacturer also added that it will offer maximum collaborationduring the investigations. Furthermore, the company does not appear to be particularly worried.
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BYD Executive Vice President, Stella Li, confirmed the company's commitment to wanting to grow in Europe, despite the investigation promoted by the European Commission. Stella Li underlines that the priority of BYD, as a publicly traded company, is that of transparent management and open to the sharing of information.
We are a company listed on the stock exchange which must be managed with transparency and openness to the sharing of information. So we are not concerned about any ongoing investigations in Europe.
Therefore, BYD intends to share all the information requested with the European Union to dispel any possible doubtson its production of electric cars. According to Li, the growth of electric vehicles represents a revolution that not everyone understands and this can cause concern. However, he believes that once all the information is shared, the concerns will dissipate since there is no nothing to dispute.
BYD sold more of 2 million Plug-in and electric cars since the beginning of the year, half of which are completely electric. In the third quarter of 2023, BYD nearly surpassed Tesla in producing electric cars. For Stella Li, however, there is no the will to compete with Tesla to become the leading electric car manufacturer. In fact, the company hopes for the continued success of the company by Elon Musk, recognizing that it significantly contributes to promoting the spread of electric cars.
Finally, we would like to remind you that the investigation that has just started could last a maximum of 13 months. If legally justified, any provisional anti-subsidy duties may be imposed as early as possible. within 9 months of the start of the investigation.
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