On June 11th, it was reported that recently, the Ministry of Industry and Information Technology, State owned Assets Supervision and Administration Commission and other national ministries and commissions have made a series of deployment requirements to ensure the stability of the industrial and supply chains and promote the high-quality development of the automotive industry. Many car companies have announced that they will unify the payment period for suppliers to within 60 days. According to incomplete statistics, as of now, 14 car companies including Leapmotor, Xiaomi, and Ideal have made commitments.
Zero Run Car
Zero Run Automobile stated that it actively responds to the call of the State Council's "Regulations on Ensuring Payment for Small and Medium sized Enterprises" and the Automobile Industry Association's "Initiative on Maintaining Fair Competition Order and Promoting Healthy Development of the Industry", and solemnly makes the following commitment: we will continue to adhere to the "60 day payment" principle, take zero arrears as the standard, streamline the approval process, continuously strengthen departmental coordination, and ensure efficient and smooth payment processes.
With the support of national policies and the joint attention of the entire industry, we are willing to work together with industry colleagues to promote the high-quality development of new energy vehicles in China.
Ideal car
Ideal Automobile stated that it will continue to implement payment terms within 60 days and work together with industry partners to promote high-quality development of China's automotive industry.
BAIC Group
BAIC Group has issued a statement stating that from today on, it will strictly implement a 60 day settlement policy for all partners who meet payment conditions, completely cancel unreasonable settlement methods such as commercial acceptance bills that increase supplier financial pressure, and alleviate cash flow pressure for small and medium-sized suppliers.
Xiaomi Cars
Xiaomi Auto firmly implements the deployment requirements made by the national and relevant regulatory authorities to promote high-quality development of the automotive industry and ensure supply chain stability, and unifies the payment period for suppliers to within 60 days.
We will take concrete actions and work together with upstream and downstream partners to promote the high-quality development of China's automotive industry.
Great Wall Motors
Great Wall Motors has promised to unify payment terms to within 60 days, to support the healthy development of the entire industry chain and promote the construction of an automobile powerhouse.
Xiaopeng Motors
In order to actively respond to and implement a series of deployment requirements from the state and relevant departments to promote the high-quality development of the automotive industry, ensure the stability of the industrial and supply chains, and assist the healthy development of small and medium-sized enterprises, on June 11th, Xiaopeng Motors announced that the payment term will be unified to within 60 days.
Chery Group
Chery Group announced a commitment to unify the payment period to within 60 days, in order to accelerate the efficiency of industrial chain capital turnover, ensure the stability of industrial and supply chains, and create a more fair, orderly, and healthy market environment.
BYD Auto
On June 11th, BYD Auto announced that in order to implement a series of deployment requirements made by the state and relevant departments to ensure the stability of the industrial chain and supply chain, and promote the high-quality development of the automotive industry, and to assist the healthy development of small and medium-sized enterprises, BYD Auto announced that the payment period for suppliers will be unified to within 60 days.
Changan Automobile
On June 10th, Changan Automobile, together with its subsidiaries Changan Qiyuan, Changan Kaicheng, Shenlan Automobile, and Avita, announced to the industry that the payment period for suppliers will be unified to within 60 days, in order to effectively fulfill the social responsibility of central enterprises, ensure the efficient flow of funds for small and medium-sized enterprises, promote the coordinated operation of the industrial chain, and work together to promote high-quality development of the industry.
Geely Automobile
On June 10th, Geely Automobile announced that in order to actively respond to the implementation of the State Council's "Regulations on Ensuring Payment for Small and Medium sized Enterprises" and the China Association of Automobile Manufacturers' "Initiative on Maintaining Fair Competition Order and Promoting Healthy Development of the Industry", Geely Automobile Group announced that the payment period for suppliers will be unified to within 60 days, in order to accelerate the turnover efficiency of industrial chain funds, ensure the stability of industrial chain supply chain, play the role of leading enterprises, and promote high-quality development of the automotive industry.
Seres Group
On June 10th, Serys Group issued a statement stating that it actively responds to the call of the Association of Automobile Manufacturers to maintain fair competition order and promote the healthy development of the industry. Salis emphasized that the achievements of China's new energy vehicles have not come easily, and called on the entire industry to strengthen self-discipline and jointly promote high-quality development. Xilis is promoting product integration and intelligent manufacturing agglomeration, promoting the coordinated development of the upstream and downstream of the industrial chain, and enhancing the competitiveness of industrial clusters. Sailis has always made payments according to the contract agreement, with a normal payment term of 60 days, achieving a win-win situation for both the host factory and the supplier.
Dongfeng Motor Corporation
On June 10th, Dongfeng Motor Group Co., Ltd. announced that in order to thoroughly implement national policies and promote the healthy development of small and medium-sized enterprises, the payment period will be uniformly shortened to within 60 days. This measure is an important action taken by Dongfeng Motor to actively respond to the State Council's "Regulations on Ensuring Payment for Small and Medium sized Enterprises", aiming to promote efficient flow of upstream and downstream funds and help promote the coordinated development of the industrial chain. Dongfeng Motor will actively practice the social responsibility and commitment of central enterprises, play the role of "chain leader" in the industrial chain, work together with upstream and downstream enterprises to build a more resilient and innovative automotive industry ecosystem, and inject new momentum into the high-quality development of China's automotive industry.
China FAW
On June 10th, China FAW announced that the company actively responded to the deployment of national ministries and commissions to ensure the stability of the industrial and supply chains, and shortened the payment period for suppliers to within 60 days. China FAW has improved its mechanisms, strengthened financial supervision, streamlined approval processes, and utilized digital technology to achieve full process monitoring, ensuring timely payment of accounts payable and enhancing supply chain efficiency and stability. This measure not only demonstrates the responsibility of central enterprises, but also provides strong support for the high-quality development of the automotive industry and the construction of a healthy supply chain ecosystem.
Guangzhou Automobile Group
On June 10th, GAC Group issued a solemn commitment on supplier payment terms, clearly stating that the healthy development of the supply chain system is the foundation for ensuring high product safety and quality. To this end, GAC Group will continue to adhere to a supplier credit period of no more than 60 days, ensuring efficient turnover of supply chain funds. Through this commitment, GAC Group collaborates with upstream and downstream partners to jointly promote high-quality development of the industry.
