BYD, the world’s leading manufacturer of new energy vehicles (EVs and PHEVs) and electric batteries, aims to double its sales outside of China to over 800,000 vehicles by 2025.
This goal was revealed by the president of the Chinese brand, Wang Chuanfu, during a videoconference with analysts, where he announced that out of the 4.27 million cars sold in 2024, only 417,204 units, approximately 10%, were sold outside of China.
In this way, BYD aims to strengthen its vehicle export strategy, particularly to countries where governments and consumers are more receptive to Chinese brands.
To boost exports to other countries and mitigate the growing impact of tariffs, BYD plans to source materials from China and assemble vehicles locally. The company particularly expects a significant increase in its market share in the UK, a country that the Chinese brand’s representative considers to be “very open” to competitive Chinese products.
The representative of the Chinese brand also revealed that it is not in BYD’s plans to sell its cars in Canada and the United States in the short term due to geopolitical developments, after the administration of Donald Trump announced a 100% tariff on electric vehicles produced in China.
In addition, BYD will continue to build factories abroad without partners, which will join those already under construction, such as in Brazil, Thailand, Hungary, and Turkey. Furthermore, the brand is also considering the possibility of establishing a third factory in Europe, which could be located in Germany.
