Core Viewpoint - The China Automotive Industry Association (CAIA) has released a payment initiative for supplier accounts, which has been supported by 17 major automotive companies, aiming to promote high-quality development in the automotive industry [1][2]. Group 1: Initiative Details - The initiative outlines requirements for goods delivery acceptance, payment terms, reconciliation, and payment processes, specifying that the payment period for automotive companies (the buyer) should not exceed 60 calendar days from the date of delivery and acceptance by the buyer [1]. - The initiative is expected to alleviate financial pressure on suppliers, which is crucial for fostering innovation and building a robust supply chain in the automotive sector [1]. Group 2: Supporting Companies - The 17 automotive companies that have committed to this initiative include major players such as BYD, Xiaomi, Dongfeng Motor Group, and SAIC Motor Corporation, among others [2]. - These companies have previously made public commitments regarding the payment term of not exceeding 60 days [2]. Group 3: Industry Impact - If effectively implemented, the initiative could enhance cash flow efficiency within the industry, leading to improved production efficiency and overall competitiveness of the Chinese automotive sector [1].

Core Viewpoint - The China Automotive Industry Association has released the "Supplier Payment Norms Initiative for Complete Vehicle Enterprises," which aims to standardize key aspects of procurement contracts between automakers and suppliers, including order confirmation, delivery and acceptance, payment and settlement, and contract duration [1] Group 1: Industry Response - Multiple automakers, including SAIC Motor, BYD, GAC Group, Xiaomi Auto, and Seres, have expressed their support for the initiative [2] - SAIC Motor has committed to unifying supplier payment terms to within 60 days and will not use commercial acceptance bills to alleviate supplier financial pressure [3] - BYD emphasizes the importance of technological innovation and management optimization to build a collaborative ecosystem for high-quality development in the automotive industry [5] - GAC Group has maintained a payment principle of not exceeding 60 days for 28 years, demonstrating its commitment to supplier relationships and supply chain stability [7] - Changan Automobile has implemented a payment process that ensures payments are made within 60 days, showcasing its commitment to supplier payment norms [10] - Dongfeng Motor aims to protect supplier rights and enhance industry resilience by adhering to the initiative's requirements [12] - Xiaomi Auto reaffirms its commitment to a 60-day payment term and aims to enhance supplier rights and industry resilience [14] - Li Auto is committed to maintaining a 60-day payment term and ensuring timely delivery and settlement processes [17] - NIO focuses on establishing long-term, mutually beneficial relationships with partners while adhering to the payment norms [19] - Seres calls for self-discipline among enterprises to promote high-quality industry development and enhance competitiveness [20] - XPeng Motors is dedicated to maintaining a 60-day payment term and ensuring efficient payment processes for partners [22]