BYD Bets on Next-Generation Tech to Reignite Sales Growth
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BYD's founder says the company will use new technology to boost sales amid intense competition in China's electric vehicle (EV) market.
Chairman Wang Chuanfu addressed shareholders in Shenzhen on Friday. He stated that the automaker's 12,000 engineers are key to regaining a technological advantage over rivals.
"We have heavyweight new technology in the pipeline," Wang said. The company is counting on this next-generation engineering to win back customers.
BYD is China's leading EV maker. Its sales growth has recently slowed in the world's largest car market, where a fierce price war continues.