Common development of electric vehicles depends on openness, innovation: BYD chairman

Wang Chuanfu, chairman of China's leading electric vehicle (EV) maker BYD, said on Monday that the common development of the EV industry depends on openness and innovation, following a symposium headed by Chinese President Xi Jinping, who is general secretary of the Communist Party of China (CPC) Central Committee.

Xi, who is also chairman of China's Central Military Commission, delivered an important speech at the symposium following consultations with private entrepreneurs.

Wang, who attended and spoke at the meeting, said he has greater faith in the private economy sector after listening to Xi's speech, and said development will accelerate if everyone has confidence and ambition.

"In 2014, 10 years ago, the general secretary said that if China wants to move from a big automobile country to an automobile powerhouse, new energy vehicles are the only way forward. And 10 years later, you can see the radical changes in the sector. BYD has truly experienced the far-sightedness of the CPC Central Committee over the past 10 years. At the symposium, the general secretary put forward many requirements on how to implement various policies. I believe that we must learn from the requirements and instructions of the general secretary. If we have confidence, we can run the enterprise better and better," he said.

Wang said China's new energy vehicles are taking a leading role across the world thanks to the openness and innovation of the companies involved and the hard work of their employees.

"China's new energy vehicle technology is about three to five years ahead in terms of products, technology and industrial chain. Only through openness and innovation can the world see the good products and achieve common development. We don't have any other skills, we just rely on technological innovation. If we say what our assets are, I think my biggest asset is the team of engineers. We have 110,000 engineers, which is my biggest asset at BYD. Behind each of our technologies is innovation, behind each of our technologies is green development, and behind each of our technologies is the hard work of 110,000 engineers," said Wang.

Common development of electric vehicles depends on openness, innovation: BYD chairman

Common development of electric vehicles depends on openness, innovation: BYD chairman

U.S. President Donald Trump said Tuesday he will extend the two-week ceasefire with Iran that was set to expire on Wednesday night (midnight GMT Tuesday).

"Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump wrote on Truth Social.

The U.S. president said he will "extend the ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."

The U.S. military will continue the blockade against Iran and "remain ready and able," according to Trump.

Iranian Foreign Minister Seyed Abbas Araghchi said in a post on X Tuesday that the U.S. blockade of Iranian ports is "an act of war and thus a violation of the ceasefire" and attacking Iranian merchant ships and detaining their crew members were even more serious violations.

"Iran knows how to neutralize restrictions, how to defend its interests, and how to resist bullying," Araghchi wrote in his post.

Mehdi Mohammadi, an advisor to Iran's parliament speaker Mohammad Bagher Ghalibaf, also said the U.S. blockade must be met with a military response, dismissing Trump's ceasefire extension announcement as "meaningless".

"Extending the ceasefire by Trump has no meaning. The losing side cannot dictate terms. Continuing the blockade is no different from bombing and must be met with a military response. Moreover, any extension of the ceasefire by Trump is certainly a way to buy time for a surprise attack. Now is the time for Iran to take the initiative," Mohammadi posted on X.

Trump extends ceasefire; Iran vows military response to naval blockade