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Chapter 1335 - 712 Penguin Car Departs in Sorrow (Please Subscribe)

Chapter 1335: Chapter 712 Penguin Car Departs in Sorrow (Please Subscribe)

At the end of April,

Penguin Group held a board meeting, and Mr. Ma also attended.

At this board meeting, the main issue discussed by the Penguin Group was about the future development of Penguin Auto Group in the field of new energy vehicles.

Facing the rapidly changing situation in the domestic new energy vehicle market, anyone could see that Feiyue Group’s Feiyue Future model had already taken a dominating position.

Even the Feiyue Future New Energy vehicle had been praised by many netizens as the "National Car" and "The Pride of Domestic Cars."

Everyone clearly understood what this meant.

Feiyue Future New Energy vehicles could, in just a year or two, become the beloved car of the people from Xia Country, even surpassing the previously most loved Mercedes, BMW, and Audi.

Therefore, under such future circumstances, the Penguin Group had to make a decision to determine the life or death of Penguin Auto Group.

"Mr. Ma, in my view, our competitive strength in new energy vehicles has already been at a disadvantage, and even if we invest more money in technological research and development, it’s hardly possible to surpass technologies like graphene batteries,"

a board member analyzed.

"You can’t say it like that. New energy vehicles were a development strategy set by our group company long ago. Combining our advanced Internet technologies like Penguin Cloud Computing and smart cloud, as well as the future deployment of Penguin Internet of Things Technology, is a very important link. Zhang, do you mean to just give it up?"

another board member offered a differing thought and suggestion.

Now,

there were two opinions on the board.

One was just as the first board member analyzed, Penguin Auto Group was already being heavily suppressed by Feiyue Group in all aspects, and catching up was very challenging.

So, this first opinion was essentially to abandon the path of new energy vehicles, the strategic field had to be reluctantly cut off.

Otherwise, investing more money into it would only worsen Penguin Group’s financial losses even further, gravely affecting Penguin Group’s stock value, making it not worth it.

Especially since Feiyue Future New Energy vehicles had officially gone on sale, Penguin Auto Group’s stocks had begun to sharply decline, affecting Penguin Group’s stock drop as well.

The other opinion was to persist with the development of new energy vehicles.

Because the development of new energy vehicles was closely linked to other technical projects of the Penguin Group and also related to the future development of the Internet of Everything technology, which is Penguin Group’s focus, it was an important link, so the sentiment from this second opinion was that they should not give up on this sector.

Penguin Group had been developing rapidly in the internet era, with Mr. Ma even once rising to the position of the nation’s wealthiest individual.

Now that internet technology had matured significantly and with the development of 5G and various technological breakthroughs, people were increasingly seeking convenient lifestyles in their busy work routines, with the emergence and booming development of food delivery services being a prime example. People didn’t even want to cook daily meals anymore; ordering food delivery was much more convenient.

Under such a macro backdrop, Penguin Group had targeted the Internet of Things field and invested considerable research and development funds to develop its own Penguin Empire Internet of Things.

The so-called Internet of Things aimed to combine every object in people’s daily lives with the internet, achieving a truly intelligent and convenient internet-based lifestyle.

And cars were an essential part of people’s daily lives.

Initially, Penguin Group’s development strategy was to improve Penguin New Energy Vehicles and then combine them with technologies such as the Internet of Things, making Penguin cars an indispensable part of people’s lives, thus forming a larger industrial chain.

At this board meeting of the Penguin Group, the board members engaged in intense discussions about these two opinions.

Should Penguin Auto Group continue in the field of new energy vehicles, or should it quietly exit?

Mr. Ma was also somewhat hesitant at this moment in the board meeting.

The development strategy of Penguin Auto Group was indeed of great importance, but being at a disadvantage now was also a fact. Facing Feiyue Group’s Feiyue Future New Energy vehicles, not only was his own Penguin car powerless, even Tesla from the United States, known for its advanced technology, couldn’t gain any advantage from Feiyue Future New Energy vehicles.

Even Dami Technology Group and Huawei Technology Group, which had grandly intended to enter the market, had already announced their withdrawal from the new energy vehicle sector.

The most direct cause for this board meeting was actually that the national government had already decided to use Feiyue Future New Energy vehicles as official vehicles.

This showed that Feiyue Future New Energy vehicles had gained favor from the government.

"Mr. Ma, from my point of view, our Penguin Auto, in terms of future development in technology, will hardly be able to catch up with Feiyue Automobile, so if it’s not possible, we might temporarily give up on new energy vehicles and look for an opportunity to re-enter the market later."

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