BYD, Xiaomi, Great Wall Motors, and several other automakers have jointly made a commitment that payment terms will not exceed 60 days.

Today, multiple automakers including BYD, Great Wall Motor, XPeng Motors, Xiaomi Auto, Chery Group, and BAIC Group issued statements on the same day, committing to "payment terms not exceeding 60 days." Yesterday, six automotive producers, namely China FAW Group Corporation Limited, Dongfeng Motor Corporation Limited, Guangzhou Automobile Group Co., Ltd., Seres Group Co., Ltd., Geely Auto Group, and Changan Automobile, issued statements on the same day, making the same commitment.

As of now, over 10 automakers have made relevant commitments.

BYD: Unifying supplier payment terms to within 60 days

According to BYD's official Weibo account, in order to implement a series of deployment requirements made by the state and relevant ministries and commissions to ensure the stability of the industry chain and supply chain and promote the high-quality development of the automotive industry, and to support the healthy development of small and medium-sized enterprises, BYD announced that it would unify supplier payment terms to within 60 days.

BYD stated that it would take concrete actions to promote the high-quality development of China's automotive industry. In the future, BYD will continue to work with upstream and downstream partners to jointly drive the steady and long-term development of China's automotive industry through technological innovation and management optimization.

Great Wall Motor: Committing to unify payment terms to within 60 days

Great Wall Motor Co., Ltd. announced that it would unify supplier payment terms to within 60 days to ensure the stability of the automotive industry chain and supply chain, promote fair market competition, stimulate innovation vitality, and improve development efficiency.

Xiaomi Auto: Unifying supplier payment terms to within 60 days

Xiaomi Auto's official Weibo account announced that it would resolutely implement the deployment requirements made by the state and relevant competent authorities to promote the high-quality development of the automotive industry and ensure the stability of the supply chain, unifying supplier payment terms to within 60 days.

XPeng Motors: Unifying payment terms to within 60 days

XPeng Motors stated that in order to actively respond to and implement a series of deployment requirements made by the state and relevant departments to promote the high-quality development of the automotive industry, ensure the stability of the industry chain and supply chain, and support the healthy development of small and medium-sized enterprises, XPeng Motors announced that it would unify payment terms to within 60 days.

Chery Group: Unifying supplier payment terms to within 60 days

Chery Group issued a statement saying that recently, national ministries and commissions such as the Ministry of Industry and Information Technology (MIIT) and the State-owned Assets Supervision and Administration Commission (SASAC) have made a series of deployment requirements to ensure the stability of the industry chain and supply chain and promote the high-quality development of the automotive industry. Chery Group resolutely implements these requirements and has decided to unify supplier payment terms to within 60 days starting from June 10th to accelerate the capital turnover efficiency of the industry chain and ensure the stability of the industry chain and supply chain.

Leap Motor: Will adhere to the "60-day payment" principle as always to ensure efficient and smooth payment processes

Leap Motor posted on Weibo that it would adhere to the "60-day payment" principle as always, with zero arrears as the standard, streamline the approval process, continuously strengthen interdepartmental collaboration, and ensure efficient and smooth payment processes.

BAIC Group: Strictly fulfill settlement within 60 days for all partners meeting payment conditions from today onwards

BAIC Group stated that from today onwards, it would strictly fulfill settlement within 60 days for all partners meeting payment conditions, comprehensively cancel unreasonable settlement methods such as commercial acceptance bills that increase the financial pressure on suppliers, and alleviate the cash flow pressure on small and medium-sized suppliers.

Li Auto: Will continue to implement a payment term within 60 days

Li Auto stated that it would continue to implement a payment term within 60 days and jointly promote the high-quality development of China's automotive industry with industry partners.

NIO: Will continue to implement a payment term within 60 days

NIO posted on Weibo that it would continue to implement a payment term within 60 days and work together with upstream and downstream partners to jointly promote the high-quality development of China's automotive industry.

SAIC: Unifies supplier payment terms to within 60 days, does not use commercial acceptance bills

SAIC announced in an article on its official WeChat official account that, in order to actively implement the national decision-making and deployment to ensure the stability of the industrial chain and supply chain and promote the high-quality development of the automotive industry, it would unify supplier payment terms to within 60 days and not adopt settlement methods such as commercial acceptance bills that increase the financial pressure on suppliers. It would fulfill its responsibilities as a state-owned enterprise with practical actions, ensure the high-quality and efficient circulation of funds for upstream and downstream enterprises, and promote better collaborative operation among partners.

FAW Group: Sets "60-day payment" as the payment term requirement for affiliated units

FAW Group stated in an article that it would continuously optimize internal procurement and financial settlement processes and take practical actions to maintain the healthy and stable order of the market economy. First, it would improve mechanisms and strengthen implementation. It would clarify payment terms and payment methods, set "60-day payment" as the payment term requirement for affiliated units, and strengthen fund supervision and process management. Second, it would optimize processes and improve efficiency. It would strengthen internal collaboration among departments such as procurement and finance, further streamline approval links, and ensure unobstructed payment processes. Third, it would leverage technology for precise control. It would make full use of the digital cloud workbench to achieve real-time monitoring of the entire process nodes, including contract execution, invoice matching, and payment applications, to ensure that every payable is paid on schedule.

Dongfeng Motor: Payment Terms to Be Unified to Within 60 Days

Dongfeng Motor announced that on June 10, in order to thoroughly implement the spirit of national policies and support the healthy development of small and medium-sized enterprises, Dongfeng Motor Corporation Limited (hereinafter referred to as Dongfeng Motor) officially declared that it would unify its payment terms to within 60 days. This move is an important initiative by Dongfeng Motor to actively respond to the "Regulations on Ensuring Payments to Small and Medium-sized Enterprises" issued by the State Council, aiming to promote the efficient circulation of funds upstream and downstream through practical actions and facilitate the coordinated development of the industry chain.

Dongfeng Motor will actively fulfill its social responsibilities and obligations as a central state-owned enterprise, further leverage its role as the "leader" of the industry chain, and collaborate with upstream and downstream enterprises to build an automotive industry ecosystem with greater resilience and innovative vitality, injecting new momentum into the high-quality development of China's automotive industry.

GAC Group: Adhering to Supplier Payment Terms of No More Than 60 Days to Ensure Efficient Capital Turnover in the Supply Chain

GAC Group stated that it has always been committed to providing customers with safe and high-grade products and services. The healthy development of the supply chain system is the foundation for ensuring the safety and high grade of products. To this end, GAC Group will, as always, adhere to supplier payment terms of no more than 60 days to ensure efficient capital turnover in the supply chain, and work hand in hand with upstream and downstream partners to jointly promote the high-quality development of the industry.

Seres: Payments Made in Accordance with Contractual Agreements with Suppliers, with Normal Payment Terms of 60 Days

Seres announced that it is actively promoting product integration and intelligent manufacturing clustering, effectively facilitating the coordinated development of upstream and downstream enterprises in the industry chain and enhancing the competitiveness of the entire industrial cluster.

Seres has consistently made payments in accordance with contractual agreements with suppliers, with normal payment terms of 60 days, achieving a win-win situation for both the OEM and suppliers.

Changan Automobile: Unifying Supplier Payment Terms to Within 60 Days

Changan Automobile announced that, together with its subsidiaries Changan Aepower, Changan Kaicheng, Deepal, and Avatr, it is declaring to the industry that it will unify supplier payment terms to within 60 days. Through practical actions, it will fulfill its social responsibilities as a central state-owned enterprise, ensure the efficient circulation of funds for small and medium-sized enterprises, facilitate the coordinated operation of the industry chain, and work together to promote the high-quality development of the industry.

Geely Auto Group: Unifying Supplier Payment Terms to Within 60 Days

Geely Auto Group stated that in order to actively respond to and implement the "Regulations on Ensuring Payments to Small and Medium-sized Enterprises" issued by the State Council and the "Initiative on Maintaining Fair Competition Order and Promoting the Healthy Development of the Industry" issued by the China Association of Automobile Manufacturers (CAAM), Geely Auto Group announced that it would unify supplier payment terms to within 60 days. This move aims to accelerate the efficiency of capital turnover in the industry chain, ensure the stability of the industry chain and supply chain, fulfill the responsibilities of a leading enterprise, and promote the high-quality development of the automotive industry.