business / news / / AL.com
Executives with Toyota and Honda, as well as Ford, have made public statements about Chinese vehicle production.
Chinese automakers like BYD can launch new models in under two years, twice as fast as rivals.
KEY POINTS
- BYD manufactures its own batteries, chips, and motors, significantly reducing production costs.
- Honda is restoring its independent R&D division in response to Chinese manufacturing speed.
- Toyota and Honda executives publicly warn their companies may not survive without major changes.
COMPANIES
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