In the BYD conference call, BYD Chairman Wang Chuanfu revealed the brand’s current situation and future plans.
Wang Chuanfu said that BYD currently has more than 700,000 orders in hand, and the delivery cycle for new cars is 4-5 months; while the newly listed Seal model has been put into mass production, the delivery pressure is very high due to the epidemic and power restrictions. Overall, BYD will strive for a monthly delivery volume of 280,000 units by the end of 2022.
The current BYD July wholesale volume reached 162,200 units, August data is not yet released, is not expected to be lower than this value.
In terms of future development plans, BYD will launch its luxury car brand in 2023 and will bring many unique new technologies, with the first model reaching the million-dollar level, while the fifth-generation DM-i system will be launched in 2024. In addition, BYD is currently focusing on the European market overseas and may temporarily abandon the U.S. market.
In terms of autonomous driving, BYD’s high-end models will launch high-end intelligent assisted driving, including a complete set of assisted driving solutions, involving the deployment of hardware and software as a whole, and will maintain a long-term sustainable product leadership by maintaining long-term product technology innovation.
In terms of market development, Wang Chuanfu believes that the entire new energy market in China could reach 9-10 million units in 2023, and they plan to deliver more than 4 million units of complete vehicles, while the battery, motor electric control semiconductor aspects will be synchronized or even more. Battery capacity is still mainly internal supply, a small proportion of external supply, but the proportion of external supply will increase significantly in 2024.
In response to next year’s subsidies for new energy vehicles, Wang Chuanfu said BYD’s raw material procurement costs will be reduced by 3-5% because of the growth in sales scale, thus offsetting this cost.
