Facing China's electric vehicles' tremendous success worldwide, White House senior trade advisor Peter Navarro recently urged governments in Europe and other Western countries to take more stringent measures, aiming to exclude Chinese companies like BYD from their domestic markets.
According to Bloomberg's report on July 17, Volvo Cars CEO Håkan Samuelsson refuted Navarro's criticism of Chinese companies, stating that Chinese automakers succeed due to strategic decisions, not through unfair competition.
Samuel Song said that Navarro's description was 'a bit excessive'. He believes that Geely Group, the major shareholder of BYD and Volvo Cars, has become two of the most powerful companies in the Chinese automotive industry. Even if the competitive Chinese car market becomes more integrated in the future, these companies are still expected to maintain their leading positions in the long term.
He said in an interview after Volvo Cars' announcement of its second-quarter earnings on Friday, “We are currently operating within a new competitive landscape and we must respect those companies that have achieved success in the electric vehicle field.”
"Chinese manufacturers have done a lot of things right," said Samuelson, emphasizing their vertical integration within the battery, software, and broader automotive supply chain.
Although Volvo Cars is controlled by Chinese capital, the company has recently received approval from the United States to continue selling its products locally.
China has repeatedly emphasized that the United States' discriminatory practices towards Chinese electric vehicles violate WTO rules and undermine global supply chain stability, ultimately harming the interests of the United States itself. China urges the US to strictly adhere to market principles and international trade rules, creating a fair competitive environment for companies from all countries. China will take resolute measures to protect its legitimate rights and interests.
