AsianFin -- Tensions flared between two of China’s top automakers on Friday after a senior BYD executive rebuked Great Wall Motor Chairman Wei Jianjun for making what he called “alarmist” comments about the country’s intensifying auto price war.

Wei sparked industry-wide concern last week after warning that China’s auto sector was becoming “unhealthy” due to aggressive discounting, likening the situation to the buildup before property giant Evergrande’s collapse—though he did not name specific companies. His remarks rattled investor confidence, sending shares of major electric vehicle makers including BYD, Nio, and XPeng sharply lower.

In response, BYD’s general manager of branding and public relations, Li Yunfei, dismissed the comparison as inappropriate and said he was puzzled by online speculation that Wei’s remarks were aimed at BYD.

“There is no Evergrande-like crisis among the major players,” Li wrote in a lengthy Weibo post, defending BYD’s financial health. He noted the company’s 70% debt-to-asset ratio and 580 billion yuan ($80 billion) in debt reflected its rapid growth trajectory, and drew comparisons to global giants such as Ford, Boeing, and Toyota.

Li did not name specific rivals in his post, but emphasized that BYD’s expansion has outpaced many peers who are “standing still,” suggesting that the company’s scale and leverage are a result of strategic growth rather than financial overreach.