The automotive industry's overseas expansion momentum has been strong this year, Wang Chuanfu, Chairman and President of BYD COMPANY (01211.HK), remarked at the shareholders' meeting.

Chinese automakers represented by BYD COMPANY have entered a promising development phase, with product competitiveness, pricing, technology and user experience surpassing many local peers. Ultimately, product strength will be reflected through data and real growth.

He revealed that the company's overseas sales this year are expected to top the original annual target of 1.6 million vehicles. As for next year, a number of new technologies will be launched, along with more breakthrough innovations. Issues such as premiumization and per-vehicle profit are expected to be resolved.

Looking ahead to the next three to five years, Wang believes BYD COMPANY will maintain sustained growth. With the support of the second-generation Blade Battery, flash charging technology, and new technologies to be launched in the coming two years, the company is expected to achieve dual-engine growth in both domestic and foreign markets, forming a virtuous cycle and bringing Chinese technology to the global stage.

He also projected that by 2030 BYD COMPANY will achieve humongous growth, and in five years it will become truly the world's champion in terms of scale.
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AASTOCKS Financial News
Website: www.aastocks.com

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