Top Executives of Automakers Share Views at China EV100 Forum

The China EV100 Forum took place on April 1, with several representatives from car manufacturing companies in attendance. They delivered speeches and shared their perspectives on a range of topics including the global automotive industry, new energy vehicles, and the development of intelligent connected vehicles.

Wang Chuanfu, the Chairman and CEO of BYD, has announced that China’s plan for the complete electrification of automobiles is progressing at a faster pace than anticipated. As a result, he suggested that adequate preparations must be made to keep up with this acceleration in modernizing the automotive industry. To achieve this goal, he proposed two solutions: firstly, extending the purchase tax exemption policy for new energy vehicles until 2025; secondly, promoting the establishment of supercharging standards by implementing a model where multiple charging guns can simultaneously charge one car.

According to Wang Jun, the President of Changan Automobile, China’s new energy vehicles industry has surpassed the phase of small-scale development in both technology and market. It is now moving towards a stage of scale efficiency where new brands will have an opportunity to compete for pricing power.

Currently, an increasing number of Chinese automobile companies are venturing into the international market. An Conghui, who serves as the President of Geely and CEO of Zeekr, asserts that in order for these companies to succeed globally, they must prioritize producing high-quality products and establishing industry standards.

NIO invested 10.8 billion yuan ($1.57 billion) in R&D last year. According to NIO‘s founder, chairman, and CEO William Li, the company must invest in technology research and development, charging infrastructure construction, and global market entry for long-term growth while managing operational risks and enhancing efficiency.

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The founder, chairman, and CEO of Li Auto shared his insights on organizational structure. He revealed that upon entering the automobile manufacturing industry, he realized the length and complexity of its supply chain. The most significant challenge he faced was related to organizational capabilities.

Zhu Jiangming, the Founder, Chairman, and CEO of Leapmotor, emphasized that there has been a significant increase in the development of intelligent cockpit systems, intelligent driving technologies, and vehicle domain control in recent years. He further added that smart electric vehicles require updates every two years to keep up with this rapidly evolving industry. Failure to do so will result in falling behind.

In 2023, the domestic new energy passenger vehicle market is expected to reach a scale of 8.5 million vehicles, with a growth rate of around 30%, showing a trend of slowing growth and increasing exports.” Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA) boldly predicted, “China’s automobile production and sales are expected to exceed 40 million units in the future.”