The Chinese giant of electric vehicles strengthens its advantage on a very competitive domestic market for smart electric vehicles – notes Reuters.
According to a stock exchange report published on Fridaythe company’s net profit was 9.2 billion yuan ($ 1.26 billion)while the company’s earlier estimates indicated from 8.5 billion yuan to 10 billion yuan.
Revenues in this quarter amounted to 170.4 billion yuan, what means an increase of 36.4 percent year on year Compared to an increase of 52.7 percent in the previous quarter – says Reuters.
“God’s eye” driver support system
Over the past few months, the largest Chinese manufacturer of electric vehicles caused confusion on the market, By offering the “God’s Eye” driver support system as standard equipment without additional costs in the entire offer.
In addition, the company presented a new technological platform for supervisory of electric vehicles.
The competition follows in the footsteps of
Success of BYD promised to follow in the footsteps of the company. Too Leapmotor, Geely and Toyota They put on sale inexpensive electric vehicles Equipped with intelligent functions.
In this way, opening a new front of the competition in the price war on the largest automotive market in the world, at which BIDA is constantly strengthening its advantage. In January-Marzec, his share in sales was 13.6 percent, while in the same period last year it was 12.1 percent.
Plan of expansion outside China
Apart from domestic market, which is about 90 percent total sales of BY, The company is planning this year export 800 thousand vehicles.
The Reuters agency said that the company also plans to reorganize its operations in Europe after previous strategic stumbles. According to Reuters informants, among the company’s mistakes that are to be repaired now: too few signed contracts with dealers, the shoulders of the steering staff knowing the local market, as well as not to offer hybrid vehicles on markets where vehicles with electric drive were not popular.
