BYD Enhances Reward System to Counter Smear Campaigns
China’s leading electric vehicle manufacturer, BYD, announced on Sunday that it is making its tipster reward system permanent. This initiative offers up to 5 million yuan ($700,918) to individuals who provide credible information on smear campaigns against the company, according to Reuters.
BYD’s Commitment to Brand Protection
Introduced in late 2021 and enhanced in June 2022, this reward program reflects BYD’s dedication to combating online defamation and safeguarding its brand reputation. The minimum reward is set at 50,000 yuan, emphasizing the seriousness with which BYD views these threats.
Tackling Misinformation Head-On
BYD seeks evidence such as chat records, emails, contracts, and fund transfers to validate claims. The company assures a generous reward for legally effective information that is verified as true.
This move comes after BYD refuted online allegations of leaking commercial secrets in September, leading to legal action against the individual responsible for spreading the rumors.
BYD’s Market Dominance and Future Prospects
Backed by Warren Buffett, BYD stands as China’s largest seller of electric and plug-in hybrid vehicles and a formidable competitor to Tesla in the global EV market.
With a record-breaking 53% year-on-year increase in new energy vehicle sales, reaching 824,001 units in the third quarter, BYD is not just strengthening its domestic position but also expanding its footprint overseas.
This reward system extension by BYD underscores the challenges companies face in the digital age, where misinformation can rapidly spread.
By proactively addressing these issues, BYD not only defends its corporate integrity but also reinforces investor and consumer confidence in its brand and products.