During the period from June 6th to June 8th, at the &#34;2024 China Automotive Chongqing Forum (CACS2024)&#34;, Li Yunfei, General Manager of BYD Group's Brand and Public Relations Department, delivered a speech.
Li Yunfei pointed out that in terms of price wars, due to differences in enterprise scale and situations, enterprises should act within their means in price wars. He reviewed the past two years, during which, due to reduced subsidies and increased raw material costs, including BYD, many car companies had to raise prices. However, with the decrease in raw material prices, price reductions are now possible.
Regarding consumers, he emphasized that companies should not deceive consumers but provide better services. He suggested that when launching new products or making major annual revisions, price reductions should be considered as part of the strategy.
In terms of competition, Li Yunfei likened competition between companies to playing cards, emphasizing the importance of acting within one's means and not being upset or breaking rules due to temporary gains or losses. He believed that healthy competition and long-term thinking contribute to the industry's sustainable development.
Regarding talent and technology, he emphasized that China has over ten million university graduates each year, which is a valuable resource for the automotive industry. He recalled that five years ago, although there were graduates from Tsinghua University and Peking University joining BYD, the numbers were not significant. However, in the past two years, over a thousand graduates from these top universities have chosen to join BYD each year.
According to last year's data, Huawei and BYD were the top choices for graduates from Tsinghua University and Peking University. It is these outstanding talents from top universities, combined with the research and development platform provided by BYD, that have jointly driven a series of technological innovations. These innovations have not only been protected by patents but have also been successfully transformed into mass-produced products.
Regarding technological innovation, Li Yunfei revealed that BYD will launch more heavyweight technologies later this year, emphasizing that only with good products and competitive prices can one ultimately win the market.
On the aspect of safety, he mentioned that BYD was the first company to propose the concept that &#34;safety is the luxury of a car&#34;. This concept is now widely accepted throughout the industry. When safety becomes the common pursuit of all automotive companies, the ultimate beneficiaries will be the vast consumers

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Li Yunfei emphasized that companies should act prudently in price wars, avoid deceiving consumers, and that healthy competition and long-term thinking are beneficial for the industry's development. He believes that the participation of top talents from prestigious universities, along with BYD's research and development support, have jointly promoted technological innovation. The key to winning the market lies in product and price advantages. As automotive companies increasingly prioritize safety, consumers will be the beneficiaries

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BYD's Li Yunfei: Corporate competition is like playing cards, you should act according to your capabilities, and not disrupt the rules because of temporary gains or losses