What's behind Chinese EV success?
There are several factors behind Chinese companies' success in producing and selling EVs. To be sure, relatively low labor costs are part of the explanation. So are generous government subsidies, as EVs were one of several advanced technologies selected by the Chinese government to propel the nation's global technological profile.
But Chinese EV makers are also making other advances. They make significant use of industrial robotics, even to the point of building so-called "dark factories" that can operate with minimal human intervention. For passengers, they have reimagined vehicles' interiors, with large touchscreens for information and entertainment, and even added a refrigerator, bed or karaoke system.
Competition among Chinese EV makers is fierce, which drives additional innovation. BYD is the largest seller of EVs, both domestically and globally. Yet the company says it employs over 100,000 scientists and engineers seeking continual improvement.
From initial concept models to actual rollout of factory-made cars, BYD takes 18 months – half as long as U.S. and other global automakers take for their product development processes, Reuters reported.
BYD is also the world's second-largest EV battery seller and has developed a new battery that can recharge in just five minutes, roughly the same time it takes to fill a gas-powered car's tank.
