Car companies promise "payment within 60 days" but fulfill this promise with limitations according to the survey at the end of the term.

On August 11, exactly 60 days after 17 car companies collectively announced the declaration to shorten the payment terms of components to 60 days, a supplier said. We asked nearly 10 suppliers of different scales, and indeed the car companies have adjusted the payment terms, but 60 days later, most suppliers saw promissory notes or bills, not cash. The requirement of a 60-day payment term currently does not specify the payment method, giving the car companies enough room to escape. Most suppliers receive just a bill, a promissory note, or a debt certificate circulated within a particular car company's supply chain system. To get the money, you have to wait another 1 month, 3 months, or 6 months, or discount and cash it in advance. The interest rates vary depending on the project and the car company, and we have learned that the interest rates on some projects exceed 3.5%.