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BYD's Wang Chuanfu: Current Mideast Situation Casts Shadow on National Energy Security
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BYD COMPANY (01211.HK) launched its second-generation blade battery and flash charging technology. During the launch event, Wang Chuanfu, Chairman and President of BYD, said that over 70% of China's oil is imported, with a major portion transported through the Strait of Hormuz and the Strait of Malacca. Coupled with the fact that 70% of the country's oil is used in the transportation sector, the current situation casts a shadow on national energy security, Wang conceded. Wang accentuated that China is a country with limited oil resources but abundant electricity, therefore replacing ICEVs with NEVs is not a choice but a necessary step for national energy security and long-term development. AASTOCKS Financial News Website: www.aastocks.com |
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