Regarding the "60-day payment term," BYD and other car manufacturers have collectively expressed their stance!

The "Supplier Payment Norms Initiative for Automobile Manufacturers" released by the China Association of Automobile Manufacturers has sparked a collective response from the industry.

On September 15, more than a dozen mainstream automakers, including SAIC Motor Corporation, BYD, Changan Automobile, Xiaomi Automobile, and Li Auto, expressed their commitment to strictly adhere to the principle of payment within 60 days and to standardize the settlement process for supplier payments.

A relevant official from the Ministry of Industry and Information Technology stated that the initiative clarifies requirements for goods delivery and acceptance, the start of the payment period, reconciliation and settlement, and payment, such as the principle that the goods acceptance time should not exceed 3 working days. It advocates for both parties in the supply chain to establish stable cooperative relationships, with the effective period of each contract being no less than 1 year.

This normative initiative specifies requirements for key aspects such as order confirmation, delivery and acceptance, payment and settlement, and contract duration, regarding the procurement contracts between automobile manufacturers and suppliers. The Ministry believes that these regulations will be of significant importance in promoting the standardized development of the automotive industry.

Automakers actively responded to the initiative, committing to effectively safeguard supplier rights, stabilize supplier expectations, and enhance the resilience of the supply chain. Many companies emphasized their continued commitment to the 60-day payment period and strict adherence to timely goods acceptance and reconciliation standards.

Traditional automakers take the lead in commitment, with established payment systems

SAIC Motor Corporation was the first to respond to the initiative, stating that by June 2025, it will officially unify the supplier payment period to within 60 days and will not use settlement methods that increase financial pressure on suppliers, such as commercial acceptance bills. The company pledged to continue actively implementing the requirements of the "Regulations on Ensuring Payment to Small and Medium-sized Enterprises."

GAC Group demonstrated a longer history of implementation, stating that since its establishment in 1997, it has consistently adhered to the payment principle of "not exceeding 60 days for supplier payment," strictly following this for 28 years, thereby fulfilling corporate responsibility and maintaining supply chain stability.

Changan Automobile, as a representative of state-owned enterprises, emphasized the need to fulfill the responsibilities of state-owned enterprises. The company has innovatively implemented a "payment collected within ten days from the delivery date" scheme, fully honoring its commitment to a 60-day payment period while exploring a standardized and efficient payment process for supplier payments.

Dongfeng Motor committed to implementing the initiative's requirements in key aspects such as order confirmation, delivery and acceptance, payment and settlement, and contract duration, effectively safeguarding supplier rights, stabilizing supplier expectations, and enhancing the resilience of the supply chain

New Energy Vehicle Companies Actively Follow Up, Emphasizing Industry Chain Collaboration

New energy vehicle companies are also actively responding in this statement.

BYD stated that it will focus on key links such as order confirmation, delivery and acceptance, payment and settlement, and contract duration, continuously building a collaborative win-win development ecosystem with upstream and downstream partners through technological innovation and management optimization.

Xiaomi Auto and Li Auto both emphasized their full support for the association's initiative and their firm commitment to the guidance of the Ministry of Industry and Information Technology. The two companies promised to continue to adhere to a payment period of within 60 days, strictly implement timely acceptance of goods, reconciliation, and settlement standards, ensuring that partners can operate with peace of mind.

Nio stated that it will establish a long-term stable mutually beneficial cooperation relationship with partners, committed to building a "whole vehicle - components" collaborative win-win development ecosystem. XPeng promised to strictly implement timely acceptance of goods, efficient reconciliation, and timely settlement.

Seres Group emphasized in its statement that companies should strengthen self-discipline and jointly promote high-quality development in the industry. The company expressed its willingness to work with industry peers to maintain a healthy and green development environment, committed to the symbiotic win-win of the industrial ecosystem, and enhancing the competitiveness of the entire industrial cluster.