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Amid subsidy cuts on NEVs, focus should be set on product appeal

Source: | Date: Nov. 27

  • At the recently held Seminar of Experience Communication and Developing on China New Energy Automobile Promotion and Application, BYD Chairman and CEO Wang Chuanfu analyzed the development status of the new-energy vehicle (NEV) industry in both China and other countries worldwide.

  • According to Mr. Wang, the NEV industry in foreign countries is experiencing a slowdown, while the domestic NEV market is maintaining a strong growth momentum. Mr. Wang is bullish on the prospects of China's NEV industry.

  • China boasts the world's most comprehensive policy system to boost the development of the NEV market. Policy factors are also the prerequisite for robust growth of the domestic NEV market. Wang Chuanfu holds the view that relevant policies should be improved to help achieve electrification of logistics vehicles, including sanitation trucks.

  • Amid ever-reduced subsidies for NEVs, NEV manufacturers should step up efforts to enhance their product appeal to sharpen competitiveness, according to Mr. Wang. BYD's future Ming models will improve their power performance by 300% to attract customers. BYD's future NEVs will also be integrated with all-wheel drive system to ensure driving safety.