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Wang Chuanfu on BYD's Sales Drop: Technology Not Advanced Enough, Major Breakthrough Coming
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BYD COMPANY (01211.HK) held an extraordinary general meeting today (5th) in Shenzhen, Chinese media reported. Chairman and President Wang Chuanfu attributed the company's domestic sales decline this year to its current technological edge not being as strong as in previous years. The market wow factor of its innovations has diminished. Combined with the growing homogeneity across the industry, this shift aligns with the cyclical nature of product and technology development. On the other hand, user pain points such as slow charging speeds in low temperatures still need to be addressed through technological breakthroughs. Wang also added that the reason he mentioned BYD COMPANY's technology is not advanced enough was that there is a major new technology coming up, though it was not convenient for him to disclose details at this time. AAStocks Financial News |
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