AutoBeta(AutoBeta.net)01/13 Report--

Today, BYD announced a personnel appointment, and Wang Chuanfu hired a senior adviser. BYD officially announced that it has appointed Kevin Wale, the former president of General Motors China, as a senior adviser to Wang Chuanfu, the director of BYD.

BYD said that Gan Wenwei will provide consulting services for BYD Group's automotive business. it includes consulting and guidance services for automotive business development strategy, operation strategy, marketing strategy, brand building and sales service system improvement.

Gan Wenwei joined General Motors in 1975 and served as President and General Manager of General Motors (China) Co., Ltd. from 2005 to 2012. He retired in 2012 and has rich experience in automotive industry management.

According to the data, BYD sold 461400 vehicles in 2019, down 11.39 per cent from a year earlier. Of this total, BYD sold 232000 fuel vehicles for the year, down 15 per cent from a year earlier, while sales of new energy vehicles fell 7.4 per cent to 230000. Affected by the market, BYD's new energy business has suffered a setback and sales have fallen for six months in a row. In December, BYD sold only 13000 new energy vehicles, down 72 per cent from a year earlier.

In terms of performance, BYD made a net profit of 1.574 billion yuan in the first three quarters, an increase of 3.09 percent over the same period last year. BYD expects the fourth quarter to be tough, so it expects a net profit of 1.584 billion yuan to 1.774 billion yuan in 2019, down about 40% from the same period last year.

"affected by the macroeconomic situation, the overall market demand of the automobile industry is expected to remain weak in the fourth quarter, superimposed by the impact of changes in the fuel vehicle price system and the sharp decline in subsidies for new energy vehicles," BYD said. Sales in the new energy vehicle industry are lower than expected, and the group's new energy vehicle business profits are also expected to decline to a certain extent compared with the same period last year. "

In 2019, BYD will finalize a joint venture with Toyota to jointly develop, produce and sell new energy vehicles and batteries. In addition, Wang Chuanfu, chairman of BYD, recently revealed that the new generation of lithium iron phosphate battery "blade battery" developed by BYD will be mass-produced for the first time in March this year and will be installed in the new model "Han", which will be officially launched in June.

BYD said the "blade battery" that Han will carry is the latest generation of lithium iron phosphate battery developed by BYD and will be mass-produced for the first time this year. The volume specific energy density is 50% higher than that of traditional iron batteries, and has the characteristics of high safety, long life and so on. The battery can effectively solve the limitations of short battery life and high replacement cost of electric vehicles.

BYD is a Chinese car brand, founded in 1995, mainly produces cars and batteries, and BYD produces pure electric buses sold to the global region. In 2008, BYD also received investment from Warren Buffett. In terms of products, BYD owns fuel cars and new energy vehicles of Tang, Song, Qin and Yuan dynasties, as well as e-series low-end electric vehicles including E1, S2 and e2.

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