Lantu Automotive Lu Fang: prices of chips, memory, etc. are rising rapidly, which poses a huge challenge for cost control. If they continue to rise, it will affect the prices of automobiles at the terminal.

During the high-level forum on the development of intelligent electric vehicles, LanTu Automotive Chairman Lu Fang stated that prices of chips, memory, and other components are rapidly increasing, posing a huge challenge for cost control. The automotive industry must be profitable, otherwise it will not comply with market laws. Further price hikes will affect the prices of cars at the end terminal, and LanTu is striving not to affect the user's car purchase experience as much as possible. By improving internal management efficiency, reducing the impact of external costs as much as possible, and hedging the risk of rising raw material prices through scale expansion. In addition, LanTu is also actively promoting the localization of the supply chain to limit the impact of international raw material price increases. Last year, LanTu took many measures to substitute domestic products.