Hu Xiu·2025-07-30 02:39Core Viewpoint - BYD recognizes the necessity to maintain competitiveness and influence through technology Group 1: Market Performance - In the first half of the year, BYD achieved total sales of 2.146 million vehicles, a year-on-year increase of 33% [2] - Passenger vehicle sales grew by 31.5% year-on-year, while overseas sales surged by 118.2%; however, domestic market growth was only 18.9% [2] - The growth rate, although higher than the overall passenger vehicle market's approximate 10% increase, still lags behind some traditional domestic competitors [2] Group 2: Competitive Landscape - The slowdown in growth is attributed to BYD's retail market share exceeding 15%, leading to scale effects, and increasing competitive pressure from rivals [3] - The intensifying competition in the mainstream price segment of the new energy market has put BYD at a disadvantage in several sub-markets [3][4] - As plug-in hybrid technology matures, the marginal returns are decreasing, resulting in reduced product differentiation and heightened market competition [4] Group 3: Technological Focus - Intelligent driving is identified as a critical area that will fundamentally determine the positioning of automotive products [6] - Wang Chuanfu has emphasized that the ability to catch up and surpass in intelligent driving will be crucial for BYD's development over the next decade [7] - The New Technology Institute is the core department responsible for advancing these technological initiatives [8] Group 4: Intelligent Driving Development - The intelligent driving team within the New Technology Institute has expanded to over 5,000 members, contributing to a total of over 16,000 engineers in the institute [9] - BYD's approach to intelligent driving emphasizes safety, viewing it as an auxiliary function aimed at reducing driving fatigue and traffic accidents [14] - The company acknowledges that intelligent driving technology cannot fully replace human driving, especially in complex urban environments [15] Group 5: User Adoption and Data Utilization - User acceptance of intelligent driving capabilities is gradually increasing, with the usage rate of parking assistance rising from 30-40% to over 60% [17] - The focus is on collecting high-quality data rather than sheer volume, with efforts to gather data from specific driving scenarios to enhance model capabilities [21] Group 6: Ecosystem Collaboration - BYD maintains an open collaboration mindset, partnering with leading algorithm companies while emphasizing the importance of in-house development capabilities [22] - The company has created a unified architecture platform that allows external algorithm companies to develop basic functions while integrating its unique hardware capabilities [23] Group 7: Resource Allocation and Strategy - The New Technology Institute comprises approximately 16,000 engineers, with a balanced distribution across various teams [26] - BYD does not support internal competition but rather focuses on competing with external industry leaders [28] - Challenges in expanding intelligent driving technology overseas include data security and localization requirements, which pose significant financial and human resource demands [29]