BYD shareholder meeting: This year's overseas sales data will be very good, and intelligent driving technology will be intensively launched in the next 3-5 years

Against the backdrop of intense competition in the new energy vehicle market, BYD will hold its 2024 annual shareholder meeting on June 6, 2025. The meeting will focus on the technological routes of electrification and intelligence, overseas market expansion, and shareholder concerns. Chairman Wang Chuanfu candidly stated that "there are still regrets in the first half of electrification" and announced that the company will intensively launch intelligent driving technologies in the next three years, while also responding to shareholders' criticisms regarding product marketing and committing to continuous improvement.

Here are some key points from the meeting:

• Wang Chuanfu: This year's overseas sales data will be very good, with about 90,000 vehicles exported last month;

• In the next 3-5 years, a series of intelligent driving technologies will be launched, with each press conference addressing a major issue;

• Acknowledged that the company has shortcomings in marketing and other areas, stating that improvements will be made;

• Emphasized that safety is the most important factor in intelligent driving, and there are still regrets to be resolved in the first half of electrification.

Explosive Overseas Sales, Wang Chuanfu: Overseas and High-end are Both Important Strategies

Wang Chuanfu revealed that BYD's overseas sales last month were about 90,000 vehicles, and he expects this year's data to be very good.

"The prices in overseas markets are relatively stable, which greatly helps the company's profitability," he stated, believing that overseas sales will increase month by month in the future. Currently, there are signs of month-on-month sales growth in multiple overseas markets.

Wang Chuanfu emphasized that overseas expansion and high-end development are both important strategies for the company.

On June 1, BYD's official WeChat account announced that BYD sold 382,476 vehicles in May, a year-on-year increase of 15.3%, setting a new monthly sales record for the year. Among them, overseas sales data is one of the highlights, with BYD's overseas sales of about 89,000 vehicles reaching a historical high. The company's internationalization strategy is accelerating and providing new growth support.

Regrets in the First Half of Electrification

Although BYD has achieved phased results in electrification, there are still "regrets in the first half" this year.

Wang Chuanfu admitted at the meeting that there are still some regrets in the first half of electrification, such as charging speeds being slower than refueling and battery performance in low temperatures not yet reaching the level of fuel vehicles. If these technological developments are gradually completed, they can enhance consumer experience and potentially eliminate fuel vehicles entirely.

Regarding the technological route, Wang Chuanfu revealed that BYD will launch a series of intelligent driving technologies in the next three years, with each technology release addressing "a major issue." For example, through algorithm optimization and sensor matching, the stability and response speed of electric vehicles in complex road conditions will be improved.

The Second Half of Intelligence: Safety is the Core Competitive Barrier

In the field of intelligent driving, Wang Chuanfu repeatedly emphasized that "safety is the most important factor."

He used the Tengshi brand as an example, explaining that Tengshi's products have always undergone extreme safety testing, such as in complex curves; additionally, everyone knows that tire blowouts affect safety. Although blowouts are rare, they can occur and need continuous testing; if a driver encounters an obstacle at high speed, whether the car can maintain stability while turning to avoid it is also related to safety He said that safety is the most important factor in intelligent driving, and BYD will prioritize it, as well as have the capability to elevate automotive driving safety to a new level alongside domestic automotive peers.

Safety may sacrifice a bit of energy density, but as long as safety is always prioritized, consumers will ultimately choose.

In addition, Wang Chuanfu pointed out that the hardware for intelligent driving, such as sensors and LiDAR, is just the starting point, and there is enormous potential for future collaboration between algorithms and sensors.

Responding to Shareholder Concerns: Acknowledging Shortcomings and Committing to Improvement

During the meeting, a shareholder criticized BYD for its shortcomings in product marketing and other areas in a lengthy article. In response, Wang Chuanfu candidly acknowledged that the company does have deficiencies in marketing and other aspects due to rapid development.

We can also feel the shareholders' frustration, and we hope this shareholder can send the article to the company for us to review carefully. We will make improvements where necessary and strive to do better.

He further emphasized that BYD adheres to a development logic centered on "product strength," rather than relying on short-term traffic or excessive marketing. Wang Chuanfu stated that future capital expenditures will focus on localized construction in overseas markets to seize the "golden period" of new energy vehicles replacing fuel vehicles