Shulou(Shulou.com)11/24 Report--

Thank you, CTOnews.com netizens, Hello, rabbit, Mr. Aviation, Daniel Wu in South China, rain and snow for the delivery of clues on the way! CTOnews.com June 8 news, BYD held its annual general meeting of shareholders in 2022 today. Wang Chuanfu, chairman of BYD, said at the meeting that the automobile industry has entered the knockout stage. If there is no competition, there will be no prosperity, and competition will lead to survival of the fittest.

Wang Chuanfu said that the success of enterprises must first have core technology, the reform of new energy vehicles is a technological revolution, enterprises with core technology can survive, if it is only a simple assembly, the chance of survival is very small. Secondly, to have a good strategic direction, the opportunity window of the industry is only 3-5 years, and the choice of vehicle models and technical routes is very important.

In addition, in order to have a rapid decision-making mechanism, automobile enterprises often have a large volume and a long decision-making mechanism, but the new energy vehicle market is like a battlefield. In the later stage of the revolution, some car companies will collapse, which requires quick decision-making.

Wang Chuanfu also said at the meeting that BYD began to vigorously expand production capacity in various regions last year and has basically solved the problem of balance between supply and demand. At present, the company's production capacity, as well as the output of various parts, can meet the market demand in the future. At the same time, the company has made full preparations to meet the growing demand of overseas markets in the future.

With regard to the current price war in the industry, Wang Chuanfu said that BYD's large-scale advantages, brand advantages, and technological advantages will help BYD outperform its peers in future competition, and BYD is confident that it will gain a higher market share in the next 3-5 years.

CTOnews.com previously reported that on June 1, BYD Co., Ltd. released the May production and sales of KuaiBao. Sales of new energy vehicles in May were 240200, compared with 114900 in the same period last year, up 108.99 per cent from a year earlier. This year, the cumulative sales of new energy vehicles reached 1.0026 million, an increase of 97.63% over the same period last year. Of this total, pure electric passenger car sales were 119600, compared with 53300 in the same period last year, an increase of 124.19%. Cumulative sales this year are 488600, up 92.39 per cent from a year earlier. Sales of plug-in hybrid passenger cars were 119500, compared with 60800 in the same period last year, up 96.42 per cent from a year earlier. Cumulative sales this year are 507900, an increase of 102.8 per cent over the same period last year.

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