Jing Ji Guan Cha Bao·2025-06-06 09:20Core Insights - BYD's Chairman Wang Chuanfu addressed the company's shortcomings in product marketing and brand building during the 2024 annual shareholder meeting, acknowledging the need for improvement while emphasizing a focus on technological breakthroughs rather than competing against rivals [2][3] - The company plans to enhance its smart driving strategy with a core focus on safety, aiming to reduce accident rates through sensor optimization and algorithm upgrades over the next 3 to 5 years, with a current R&D team of nearly 5,000 people and an investment of 100 billion yuan in generative AI and large model technologies [2][3] - BYD's overseas sales are showing a monthly growth trend, with May exports reaching approximately 90,000 units, and the high-end brands Tengshi and Yangwang are performing better than expected in international markets [3] Strategic Directions - Wang highlighted that the window for electric vehicles to replace fuel vehicles is only 3 to 5 years, indicating an impending "survival of the fittest" phase in the industry, where BYD will focus on vertical integration and cost reduction while developing solid-state batteries and lithium iron phosphate energy storage technologies [3] - The company aims to achieve a production and sales milestone of 10 million units annually, with a vision to promote Chinese electric vehicle technology globally, while currently having around 600,000 undelivered orders with a delivery period of 5 to 6 months [3][4] - Wang expressed emotional gratitude towards shareholders, reiterating the goal of becoming the "future Toyota" and the importance of high-end branding as a critical battle for the company [3][4]