At an investor’s conference, BYD revealed that R&D for a compact EV had been completed, according to an August 14 Great Wisdom Finance report. The launch time will be set once all R&D progress has been integrated into the product, BYD told investors.
At the conference, BYD explained their motivation for this decision. According to Great Wisdom, the company explained that the EV market is truly coming into its own, and that demand for minicars and compacts is strong. Because of this, BYD believed it was necessary to intensify R&D and strive to get this vehicle on the market as soon as possible.