Wang Chuanfu said it is impossible for BYD to over-market: future capital expenditures will maintain double-digit growth and invest 100 billion yuan to focus on the research and development of intelligent driving technologies such as generative AI and large models.

BYD Chairman Wang Chuanfu said at today's BYD shareholders' meeting that BYD insists on using the latest technology in the field of new energy to build its high-end brands. This move is aimed at promoting BYD to demonstrate stronger strength and brand value at the 2023 Annual General Meeting of Shareholders.

"We cannot overdo marketing, nor can we seek temporary development through huge traffic. To truly create a high-end brand, we must rely on product strength, and the core of product strength still lies in technology and innovation." Wang Chuanfu said.

Wang Chuanfu introduced that in the second half of this year, BYD will launch the Denza Z9 GT, which will use BYD’s new three-motor technology platform. "We will release a lot of new technologies on this platform."

He also mentioned that BYD's engineering team in the field of intelligent driving has nearly 5,000 people, and the company will invest 100 billion in the field of intelligent driving in the future. Yuan, focusing on the research and development of intelligent driving technologies including generative AI, large models, etc.

When talking about the company's next capital expenditure, Wang Chuanfu said: In the future, BYD's capital expenditure will still maintain double-digit growth. The company will mainly invest in localization construction in overseas markets to seize the golden period when new energy vehicles replace fuel vehicles and achieve rapid development.

The above is the detailed content of Wang Chuanfu said it is impossible for BYD to over-market: future capital expenditures will maintain double-digit growth and invest 100 billion yuan to focus on the research and development of intelligent driving technologies such as generative AI and large models.. For more information, please follow other related articles on the PHP Chinese website!