BYD Promises The Presence Of Latest Technology In Its Car To Restore Sales

BYD electric car at the GJAW 2025 event. (Photo: Indra/VOI)

JAKARTA - After years of speeding up and placing themselves as the world's largest producer of new energy vehicles (NEV), BYD is now entering a slowdown phase. BYD has also prepared a strategy to roll up its sales again.

Sales that have skyrocketed in recent years have actually slumped in recent months. Chairman and President of BYD Wang Chuanfu, finally opened his voice.

In an extraordinary general meeting of shareholders, he explained that the decline in domestic sales occurred because BYD's technological advantages were no longer as popular as before. Where, the "surprising" effect that has been the hallmark of BYD's innovation is said to be starting to fade.

Wang also highlighted the increasingly tight conditions of industrial competition, not to mention the competition that is moving towards the cheap price race. In addition, he emphasized that charging performance at low temperatures is one of the obstacles that must be resolved immediately through technological leaps.

"Our technology is not yet progressing enough at this time because there will be a big technology announcement coming. I can't reveal the details yet," Wang said, as reported by CnEVpost, Tuesday, December 9.

Wang emphasized that technology remains the heart of BYD's competitiveness, supported by a research team of 120 thousand technicians. In the next 23 years, BYD will boost research and development investments to deliver more revolutionary innovations.

In addition to strengthening the technical side, BYD will also fix marketing strategies that are considered less aggressive in the midst of market conditions that were previously profitable. The company wants to ensure technology excellence can be translated directly into competitiveness in the market.

Global expansion is also a priority, Wang emphasized BYD will strengthen penetration in the international market to boost sales volume more steadily. Last November, BYD recorded sales of 480,186 units of NEV.

Despite being the highest monthly figure this year, this achievement still fell 5.25 percent compared to the same period the previous year. This marks a year-on-year contraction for three consecutive months.

As for January November, BYD posted sales of 4.18 million units, or grew 11.30 percent on an annual basis. This figure is much slower than the aggressive growth rate in 2021'2024 which had reached more than 200 percent.

This year, BYD is known to release fewer new technologies. The company had relied on updating smart driving features to many models, but the strategy was unable to raise sales.

BYD then released a lower valuable variant without a smart driving system to catch up on the market. Meanwhile, competitors such as Geely are even more aggressive by presenting hybrid models and affordable electric vehicles, adding to the pressure in China's NEV competition.