Multiple Automakers Respond Quickly

On September 15, the China Association of Automobile Manufacturers releasedInitiative on Payment Standards for Suppliers by Automobile ManufacturersA proposal was made to standardize the payment terms related to accounts payable in procurement contracts between vehicle manufacturers and supply chain companies. Subsequently, multiple automakers issued statements to actively respond.

SAIC Motor: Going forward, we will continue to actively implement the requirements of the "Regulations on Ensuring the Payment of Small and Medium-sized Enterprises," and respond with concrete actions to the "Initiative on Norms for Payment to Automobile OEM Suppliers." We will focus on key aspects such as order confirmation, delivery and acceptance, payment and settlement, and contract terms, to promote high-quality and efficient capital flow throughout the upstream and downstream enterprises.

Dongfeng Motor Corporation: Actively responding to the call of the initiative, we will implement the initiative's requirements in key aspects such as order confirmation, delivery and acceptance, payment and settlement, and contract duration, effectively safeguarding suppliers' rights and interests, stabilizing suppliers' expectations, and enhancing the resilience of the industrial chain.

Chery Group: Commits to standardizing contract provisions in key aspects such as order confirmation, delivery and acceptance, payment and settlement, and contract duration, implementing the requirements of the "Regulations on Ensuring Payment to Small and Medium-sized Enterprises," and building a collaborative and mutually beneficial development ecosystem between complete vehicles and auto parts suppliers.

Seres: Calls on enterprises to strengthen self-discipline and jointly promote high-quality development of the industry. Seres is committed to a symbiotic and win-win industrial ecosystem, jointly fostering a healthy cycle of industry development and enhancing the competitiveness of the entire industrial cluster.

Li Auto will continue to fulfill its commitment to a payment period within 60 days, strictly implement standards for timely acceptance of goods, reconciliation, and settlement, ensuring that partners can operate with confidence and achieve steady development.