Seres Group Chairman on Tesla's FSD Entry and Auto Industry Trends

TapTechNews reported on June 7, at the high-level dialogue among entrepreneurs held today at the 2024 China Auto Chongqing Forum, Zhang Xinghai, the chairman (founder) of Seres Group, expressed his views on Tesla's FSD即将 entering China.

He stated that the introduction of Tesla's FSD is not only a challenge to the existing pattern but also a significant opportunity for the Chinese intelligent connected new energy vehicle industry, which will promote the leap from intelligent driving to autonomous driving in Chinese intelligent connected new energy vehicles.

When Tesla entered China, someone asked me if Chinese new energy vehicles could still survive? I said at that time that Tesla's entry into China would definitely be a good thing and would definitely promote and accelerate the development of Chinese new energy vehicles. In fact, BYD becoming the global number one in new energy vehicles today, in my personal opinion, is the result of Tesla's promotion.

He believes that the entry of Tesla's autopilot into China will also promote and accelerate the further acceleration and upgrading of intelligent driving in the Chinese auto industry, especially autonomous driving. In less than five years, China will also become the global leader in intelligent driving or autonomous driving.

Zhang Xinghai said that the automotive industry is undergoing profound changes. In this regard, he talked about three thoughts. One is to pay tribute to users and revere consumers. It is because of the support of the vast number of users that today's Chinese auto industry has become the world's first in scale.

Two is to promote high-quality development of the auto industry with new-type productive forces. Promoting high-quality development of the auto industry requires cultivating new-type productive forces, and new-type productive forces with scientific and technological innovation as the core are promoting the breakthrough and leapfrog development of Chinese new energy vehicles.

Three is to solidify core capabilities with users as the root. Zhang Xinghai mentioned three adherences, adhering to software defining cars, adhering to serving users wholeheartedly, and adhering to long-termism.

When it comes to the current内卷 phenomenon in the auto industry, Zhang Xinghai believes that from the product level, it is necessary to roll out value, from the service level, it is necessary to roll out the user experience, and from the industrial perspective, it is necessary to roll out the technological upgrade and iteration of the industry.

He also mentioned that the new-type productive forces with scientific and technological innovation as the core are promoting the breakthrough and leapfrog development of Chinese new energy vehicle enterprises. Allegedly, Seres Automobile has integrated the original 300 first-level suppliers to 100 at the industrial chain end, and will further integrate to about 50 in the next step.

Referring to TapTechNews' previous report, Seres' new energy vehicle sales in May were 34,130 units, a year-on-year increase of 298.62%, and the cumulative total for this year was 156,823 units, with a cumulative year-on-year increase of 342.35%.

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