BYD chairman predicts joint venture brand share will decline

BYD Chairman Wang Chuanfu said at the 2023 financial report investor communication meeting that the market share of joint venture brands is expected to drop from 40% to 10% in the next 3-5 years. He believes that as competition in the new energy industry intensifies, 2024-2026 will be a critical period to determine the success or failure of the company. New energy products of Chinese automakers will gradually replace the market position of joint venture brands.