China Automotive Systems, Inc. (NASDAQ:CAAS) Q4 2022 Earnings Call Transcript

William Gregozeski: Okay. And then last question here. Can you provide an update on how the BYD order is going and whether there are any updates related to Sentient in the power order?

Jie Li: Okay. So yes, BYD has been a long-term customer and, and now increasingly become our one of our top priorities. And in 2022 we grew with BYD significantly, and we expect the growth will continue in 2023. We — last year towards end of last year, if you recall, we inked a long-term strategic partnership with them. Through that comprehensive partnership we are now entering into all series of models of BYD product. And so in 2022 we sold about 400,000 to 500,000 units, and we’re looking to double in 2023.

William Gregozeski: Okay. And then were there any updates related to the Sentient power order?

Jie Li: Okay. Yes, our subsidiary in Sweden the autonomous driving arm are doing pretty well. We booked some revenue, a moderate revenue in 2022, and we are looking to increase the revenue. They are looking to increase the revenue in the second half of 2023. There’s a large batch order will be expected, in the meantime, that’s what the European customer. In the meantime we are deepening our partnership with BYD. Especially we are looking into some, they are looking into some of the autonomous driving features we can provide. So looking forward to work with BYD to materialize those autonomous functions, functions into their new models.

William Gregozeski: Okay. Thank you. That’s it from me.

Operator: Thank you so much. Okay. It appears we have no further questions in the queue. I’m going to hand back over to Kevin for any closing remarks.

Kevin Theiss: We want to thank everyone for joining us today in our conference call. We wish you to be safe and we look forward to speaking with you in the future. Thank you.

Operator: Thank you everybody. This does conclude today’s conference call. You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation.