The Rise of Chinese Electric Cars and Global Competition

China's rise in electric vehicle market poses a serious threat to global industry, despite prevalent discrimination against Chinese products.

### The Rising Threat of Chinese Electric Vehicles to Global Competitors
* 🔌  Despite the escalating US-China tensions, China has become the world's largest electric vehicle market, with **60% of global electric vehicles sold in 2023 being sold in China**.
* 📉  Due to the tensions, Tesla's sales in China decreased by **nearly 20%** compared to the previous year, leading to **price adjustments** to counter Chinese competitors.
* 📺  Similar to China's dominance in the global TV panel market, experts warn of the **growing threat of Chinese electric vehicle manufacturers like BYD**.
* 🚗  BYD, supported by Warren Buffett, has rapidly grown its global sales and is predicted to **enter the top 5 automakers by 2026**.
* 💰  Despite offering competitive products at lower prices, Chinese electric vehicles face **persistent consumer biases**.
* 🇨🇳  The narrative of discrimination against Chinese products based on national origin contradicts the principles of **equality and freedom**.
* 🌏  It is essential to objectively assess the **strengths and weaknesses of global competitors** to effectively respond to the **changing landscape**.
* 🔮  Overcoming deep-rooted biases and embracing new perspectives may be a necessary step for **sustainable growth and competitiveness**.

Today's video is a story that most Koreans dislike, but I believe it's a story that most people should know. First, I want to mention that I will speak very strongly on purpose, so it might be uncomfortable. Have you heard of the term Thucydides Trap? By the end of this video, those who are emotionally attached may just ignore the facts and insult me, not knowing that the world is changing. But for those with an open mind, you may gain new insights. Everyone is aware of the intense conflict between the US and China for global dominance. The US has tripled tariffs on Chinese electric cars and raised taxes drastically. Yet, despite this, Musk recently urgently visited China, which is ranked 2nd in the national power hierarchy.

Prime Minister Lee Chang met with China and sent a love call to deepen cooperation with China. If China really has no power and Chinese cars are really nothing, why did Elon Musk visit China first, not India? There is a reason for that. According to SN Research, the world's largest electric vehicle market is in China, with a whopping 60% of the 174,000 electric vehicles sold worldwide in 2023 being sold in China. Due to the US-China tensions, Tesla's sales in China decreased by nearly 20% compared to the previous year. Tesla is responding to Chinese speculation by lowering the price of electric cars, but it is not easy. They keep saying that I keep giving them fear, so from now on, I will laugh and be bright like this.

I will tell you, they say that by looking at history, we can know the future. China once destroyed our country's LCD industry with a price-cutting strategy. In 2016, our country's LCD market share was 37.9%, but by 2023, China's market share had soared to a whopping 67.3%. Under China's low-price strategy, they now dominate the global TV panel market as of the present time. In fact, when we visited the CSA last January, the quality of TV panels from Chinese companies was even better than what we had seen in the news. Of course, when it comes to high-end products, like LG or Samsung's OLED displays, they are indeed top-notch. However, their global market share is only around 10%. Just like 70 years ago during the Korean War, China came in with overwhelming numbers and low prices.

The offensive has begun. Recently, at the Beijing Motor Show, journalists expressed the advance of the red electric vehicle fleet. They mentioned that Wang Chuanfu, the chairman of BYD, the Noah's Ark that will save humanity, is the only rival to Elon Musk. This situation is really serious and unfavorable for us. Last September, the German Chancellor also warned Germany, saying, Chinese electric cars are a serious matter, so Mercedes-Benz, BMW, Porsche, and Audi, you need to be on high alert. I might sound scary, but this is a fact. What will you do if you deny it? BYD has truly become terrifying. Their global sales increased by 80% in just one year, making them the world's number one. Of course, we need to keep an eye on their export competitiveness, but having a large domestic market is also a competitive advantage. The Chinese military...

I'm going to excuse it as a quantity washer. My strategy is a strategy. Having a large population and strong national power is competitiveness. Charlie Han, in an interview with CNBC, left a remark that BYD, not Tesla, has the capability to take half of the market. Half, I'm saying. Those who really follow the auto show these days will know. Experts predict that by 2026, BYD will enter the top 5 in the world. Starting as a battery company, BYD released its first electric car in 2010. The history is deeper than you think. However, until 2019, it did not grow. Starting in 2019, they began to hire top German designers in the world, and the design started to change quite nicely. And from 2020, they started to go all-in on electric cars and plug-in hybrids, and even received support from Warren Buffett.

I received it. However, it's not like they just endure making a fuss. Hyundai has created a premium brand, Genesis, just like Toyota made Lexus. BYD also created a premium brand, Pang Qing Bao. They unveiled a supercar without a roof and front windshield. Frankly, this is a bit too much. Even if it blocks the wind and warm wind comes out in winter, it gets cold in winter, and the wind comes in. But having no roof and no front windshield is a bit too much. Anyway, looking at it more practically, recently they released a hybrid electric car, DML, that can go 2,100 km. When you look at this car from the outside, it looks like a Sonata or a similar size to the K5. How much do you think this will cost?

It is said to have around 160 to 210 horsepower. Sonata has about 140 to 160 horsepower, I know that much. They have almost similar performance, of course, the driving range is overwhelmingly in favor of China. However, these days, if you add some options to Sonata, it comes out to almost 40 million won. But, the price of BYD DM? It's 1,762 dollars, which is about 18.95 million won in Korean currency. It's almost half the price of Sonata. It can run 2,100 km and despite the expensive output compared to Sonata, the interior is not bad. Now, from now on, it's my honest opinion. Honestly, if the budget is around 100 million won, I wouldn't buy a Chinese car. Personally, if it's not a Lexus RX450h or something like a BMW X5, I wouldn't even consider it. I don't think I would buy a Chinese car at a high price. However, if my budget is around 30 million won and I can get a model-level performance that is equivalent to about 60 million won, then I think I would consider buying a BYD car from China that can deliver that level of performance in Korea.

So, what actually happened? The price of the small electric SV Seeker that BYD unveiled last year was 13 million won. It is known to have an almost 3400km driving range. The price is very cheap for me. If we look at it objectively, we are already using Chinese products like Xiaomi air purifiers, Roborock vacuum cleaners, DJI gimbals, and so on without any hesitation. Nevertheless, many people still discriminate against Chinese products, saying things like it's just a Chinese product and so on. If you look at Article 2 of the Universal Declaration of Human Rights, it states that everyone is entitled to all the rights and freedoms set forth in this Declaration without distinction of any kind, such as race, color, sex, language, religion, political or other opinion, national or social origin, property, birth, or other status. Even though it is written like this, we simply discriminate based on the fact that it is from China.

If we look at other countries after changing our perspective, can we ignore and discriminate against them just because we are Korea? No, that's not right. The anti-Japanese and anti-Chinese sentiments in Korea have been around for a long time, but I hope that you, our viewers, will have a critical attitude that looks at the current state of our competitors objectively. I hope for that, but I think that until those who are ignoring and dismissing us disappear, our country will remain in the same state. Even if you have watched up to this point, those with deep emotions will not change. Anyone who presents a positive outlook on China's future is often criticized as a Joseonjok, which is a convenient way to criticize. Therefore, in order for new things to be accepted, the existing ones must be.

It may only be possible after all the people who have acquired it have died. Physicist Max Planck left these words. It is not convincing the opponents of the time that leads to victory, but it is when the opponents all die and the new generation accepts it that victory is achieved. But don't you think that way? If China is so great, why hasn't China completely surpassed the United States yet, for example, in semiconductors, which even Korea cannot catch up with? In the next video, I will explain why China is unable to win despite rising like a storm. Please subscribe, like, and turn on notifications.

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에스오디 SOD

The Impact of US-China Tensions on Tesla's Sales and Strategy

Elon Musk's recent urgent visit to China and the country's position as the world's largest electric vehicle market highlight the impact of US-China tensions on Tesla's sales.

Despite the conflict, Tesla is striving to maintain its position in the Chinese market by lowering car prices.

The ongoing power struggle between the US and China is significantly influencing the global electric car industry and forcing companies to adapt their strategies.

China's Dominance in the Global TV Panel Market

China's low-price strategy has led to a significant increase in their LCD market share, dominating the global TV panel market.

Chinese companies are now producing TV panels of better quality, while top competitors like LG and Samsung have a much lower market share.

The rise of Chinese electric vehicle companies, particularly BYD, is posing a serious challenge to traditional car manufacturers, leading to a warning from the German Chancellor.

BYD's Evolution into a Major Player in the Auto Industry

BYD, a Chinese company, is predicted to capture half of the market share, rivaling Tesla.

The company's growth from a battery manufacturer to a top player in the auto industry was boosted by hiring German designers and receiving support from Warren Buffett.

BYD has also ventured into premium car brands and recently released a hybrid electric car with an impressive range of 2,100 km.

Comparison of BYD Cars and Sonata in South Korea

BYD cars have a much lower price compared to Sonata, with a longer driving range, making them a more affordable option.

The speaker personally wouldn't buy a Chinese car at a high price, but would consider it for a lower budget with equivalent performance.

Despite discrimination against Chinese products, the speaker points out the hypocrisy based on the Universal Declaration of Human Rights.

Overcoming Anti-Japanese and Anti-Chinese Sentiments in Korea

Anti-Japanese and anti-Chinese sentiments have been persistent in Korea, impacting the perspective on these countries.

The need for a critical and objective attitude towards competitors is emphasized, in contrast to the current state of bias.

The video creator expresses a hope for the disappearance of those who ignore Korea, allowing for a more open acceptance of new ideas, while also questioning China's ability to surpass the United States.