Volvo Car CEO Rejects Navarro's 'Pirate' Label for Chinese Automakers

Industry
โดย Bloomberg·Read original
Summary · why it matters

Volvo Car CEO Hakan Samuelsson pushed back against White House trade adviser Peter Navarro's criticism of Chinese automakers, saying they have prospered through effective strategy rather than unfair competition. Samuelsson said Navarro's description of BYD as 'plundering global car markets' goes a bit too far, and that Chinese manufacturers have done a lot of things right, pointing to their deep vertical integration in batteries, software and the broader automotive value chain. He added that companies like BYD and Volvo's majority owner Zhejiang Geely Holding Group should be considered among the new industry leaders alongside traditional players such as Audi, BMW and Mercedes-Benz. The comments came after Navarro published a commentary accusing Europe of dithering while Chinese carmakers gain market share, singling out BYD as a microcosm of China's pirate business model.

Impact on stocks 6

Electrification & Mobility▲ · 3 stocks
Volvo Car AB Series B
0AAK
▲ PositiveCompetitionrelevance

Volvo Car CEO publicly defends Chinese automakers including its owner, positioning them as industry leaders, which reflects positively on Volvo.

Consumer Discretionary▲ · 2 stocks
Others▲ · 1 stocks
BYD Co Ltd Class A
002594
▲ PositiveCompetitionrelevance

CEO defends BYD against 'pirate' label, praising its vertical integration and strategy, countering negative trade adviser criticism.

Theme Impact 1

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