EVs are really hot. So it’s no surprise that EV carmakers like BYD and Tesla are seeing some of the fastest growth in brand value of any category.

Brand value is basically a combination of three factors: brand strength (how strong the brand is), financial contribution (how much money it makes), and the role of brand (how important brand is in driving choice for the category).

As stories about feuding car makers dominate the headlines, I hope executive and marketing teams don’t lose sight of the fact that building brand strength right now is one of the best moves they could make to create sustainable competitive advantage.

If I were Ford and GM, I’d be focused on relentlessly convincing consumers on what makes my brand different, unique and relevant, even if that seems like a tough investment to justify among the many other expenses (e.g., R&D, operations, etc.) and considering inflation and other macro forces.

In the long run, even if factors like ‘financial contribution’ or ‘role of brand’ change as EVs become more prevalent, the car makers who invested in building brand strength will be better positioned to weather the storm.