According to Lucid CEO Peter Rawlinson, Chinese electric vehicles (EVs) are still lagging behind Tesla in terms of core EV technology, drive train elegance, battery integration, and overall engineering. During the Financial Times’ Future of the Car Summit, Rawlinson expressed disappointment with the engineering of Chinese EVs, noting that they are “years and years behind Tesla.” Additionally, Rawlinson cautioned against underestimating Chinese automakers, suggesting that they are quick learners.
It is evident that Chinese EVs have become a growing concern in North America and Europe, prompting legacy automakers to propose extensive plans to combat the influx of Chinese EVs into their markets. To stay competitive, some legacy automakers have diversified their vehicle lineup by offering battery electric vehicles and plug-in hybrids, which has resulted in stellar sales performance quarter after quarter. BYD Europe’s boss, Michael Shu, expressed confidence in the company’s potential to lead the market and announced plans for a significant investment in the EU.