BYD's (HKG:1211, SHE:002594) chairman Wang Chuanfu said electrification within the automotive industry still has issues, Yicai Global reported Friday.
Issues include slower charging speeds and subpar cold-weather battery performance, but these technologies are expected to improve over time before fuel-powered cars will be phased out, the report said, citing Wang's statement at the company's annual shareholders meeting.
Electrification is just the "first half" of the industry, while the "second half" will be about smart technology, with safety being the primary goal in autonomous driving, Wang reportedly said.
The company's Shenzhen shares dropped less than 4% and Hong Kong shares fell over 3% in recent trade.
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