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Chinese EV Giant Defends Compliance Record Amid Industry Disputes
June 8, 2023 – BYD Group’s General Manager of Brand and Public Relations Li Yunfei issued an official statement today addressing two recent controversies surrounding the automaker’s practices and financial health.
Fuel Tank Specifications Clarification
Regarding the “normal-pressure fuel tank” debate:
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- Confirmed 2021-2023 PHEV models used compliant normal-pressure tanks
- Implemented engine activation every 7 days (3-5 minutes) to manage fuel vapor emissions
- Transitioned entirely to high-pressure tanks after customer feedback about engine activation
- Noted a leading Zhejiang automaker also used similar systems 2018-2023
- “China’s PHEV technology and standards lead globally thanks to early R&D investments by multiple domestic automakers,” Li stated. “Our solutions always met environmental regulations.”
Financial Health Defense
Addressing “Auto Industry’s Evergrande” comparisons:
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- Revealed a Hebei-based competitor filed “malicious reports” to financial regulators since late 2022
- Allegations included high debt ratios, accounting fraud, and audit concerns
- Exchanges and regulators conducted thorough investigations confirming BYD’s compliance
- “We welcome industry oversight,” Li said, “but reserve legal rights against malicious accusations and smear campaigns that constitute unfair competition.”
Industry Context
The statement comes amid:
- Growing competition in China’s EV market
- Increased scrutiny of automakers’ environmental claims
- Heightened sensitivity about corporate financial stability
BYD maintains its position as:
- China’s top-selling EV manufacturer
- A global leader in plug-in hybrid technology
- Tesla’s chief Chinese competitor
The company emphasized its commitment to regulatory compliance while warning against what it characterizes as anti-competitive behavior from rivals. Market analysts suggest the public response aims to reassure investors and consumers amid aggressive industry competition.
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