BYD, the largest global manufacturer of electric and plug-in hybrid vehicles, continues to set ambitious goals and has announced its intention to achieve 50% of its vehicle sales outside the Chinese market by the end of the decade.
According to “Reuters,” this strategy represents a new trajectory for the brand, which has been growing in markets such as Europe, South America, and Asia, and comes at a time when global sales of electric and plug-in hybrid vehicles continue to rise.
In the first three months of 2025, BYD sold over 1 million electrified vehicles worldwide, a 60% increase compared to the same period in 2024, when 626,263 new registrations were recorded.
This strong performance by BYD places the Chinese manufacturer very close to surpassing Tesla in total sales of 100% electric vehicles. As early as April, BYD surpassed Tesla and Mercedes-Benz sales in the UK, solidifying its growth trajectory in European markets.
This strong performance by the Chinese brand has contributed to doubling BYD’s sales outside the Chinese market compared to 2024.
Despite global growth, BYD, like other Chinese brands, faces some challenges in entering the North American market, particularly in the United States, due to the trade “war” between the US and China and the high tariffs imposed by the Trump administration.
However, according to analysts, growth in markets such as Europe and Latin America may compensate for the absence of the North American market in the coming years.
In this regard, BYD will inaugurate a new factory in Hungary later this year, and a new production unit is scheduled to open in Turkey by 2026. Additionally, the Chinese brand has indicated that a third factory in Europe is under consideration.
Outside of Europe, noteworthy is Brazil, where BYD is building a factory, and Thailand, where the brand recently opened a new production unit.
