00:00One area that's really dramatically feeling the impact of this is the electric vehicle sector.
00:07The company leading that charge is China's BYD, the biggest EV maker in the world.
00:13I spoke to BYD's Vice President, Stella Li.
00:17She's the person who's been driving BYD's global strategy outside China.
00:22So BYD made the strategy is based on technology. This is number one.
00:28Second, we're based on our market. Our principle is if the market is here, we're going to invest here.
00:35So we made our investment in Brazil, we decided like three to four years ago.
00:41And then we decided to invest in Hungary facility three years ago, very earlier than the tariff.
00:48And then we have facility in Thailand too.
00:51For us, we're turning BYD consumer car is become more international company and a global company.
00:58And then to localize ourselves in different places for manufacturing.
01:02So tariff for us is just a short term challenge.
01:06But long term, our vision is make global manufacturing.
01:10Now, as BYD expands across Europe, many European car makers are struggling with mortgages.
01:17They're struggling with speed to market.
01:19Do you think that legacy automakers fear or revere BYD?
01:25I think the car market is changing.
01:28So electrification has totally changed the whole industry.
01:33Then every manufacturer needs to invest for the technology.
01:37Make your car to be smarter, to be more reliable.
01:41And then with all equipment, high technology.
01:44Then also you need to also invest further down to autonomous driving.
01:49So I think for BYD, we already laid out our next five years plan, focus on AI, focus on autonomous driving.
01:59So we are already in the second half of the game for like intelligence, autonomous driving.
02:05So every manufacturer, they need to really invest all the R&D resources for this kind of future technology.
02:13If they are not, they're going to be like a kind of lose out.
02:17I wonder what you think that European automakers are maybe missing.
02:22What is the thing there that you think business leaders are missing when it comes to opportunity in the space?
02:30I think the challenge, it's pretty for them, is that outside China, a lot of countries, regions,
02:36their future policy is not sustainable.
02:40Always changing back and forth.
02:42This will bring a lot of confusion to the automaker, to the leader.
02:48What are they going to invest?
02:50They need to invest in combustion engine?
02:52Or they need to invest for the EV?
02:54Or they need to invest for other technology?
02:57Sometimes they have to bet.
02:59They invest both.
03:00But then this will make their R&D so expensive.
03:03And then in the end, the result did not pay back.
03:06So this, I think, is their challenge here.
03:10Then, but the second, I think, is sometimes when, as the, like, auto leader, the top CEO,
03:18they need to look for the potential for future.
03:21We understand, like, China market is very competitive.
03:25But then you need to join the race.
03:26Never give up.
03:27Never give up.
03:28Because it's just like an Olympic game.
03:30This year you lose.
03:31But then you come back next year, you can be champion.
03:33If not, the following years.
03:34In the spirit of Davos.
03:36Yeah.
03:37What do you think meaningful dialogue between governments, regulators, and automakers could
03:43or should look like?
03:45Yeah.
03:46In here, you're equally sitting together to discuss about the future.
03:50Then, I saw a lot of top leaders, they are more relaxed here.
03:54I think you don't need to worry about the geopolitical battle here.
03:58And even the, like, some voice came landing here, it becomes softer.
04:03So that's very amazing, like a platform.
04:06Neutral.
04:07Be sure.
Comments