Abstract:
A few days ago, BYD's executive vice president and head of international business, Li Ke, clarified the company's global strategic goals for the next stage at a summit in Singapore.
It plans to overtake Toyota and Volkswagen in the next five years and become the world's largest automaker.
She said that BYD will adhere to its overseas strategy and continue to explore markets in Europe, Central America, South America, Asia and Oceania, and emphasized that the company has achieved leadership in energy storage, photovoltaics, batteries and other fields. Battery technology is one of its core competitiveness, and its advantages are not limited to automobiles.
When it comes to the U.S. market, Li Ke made it clear that he will not enter it for the time being.
The reason is that the United States plans to strengthen restrictions on China-related connected cars and vehicle software entering the U.S. market through legislation. Even Polestar, which has a factory in the United States, has to turn to other markets for sales.
"BYD hopes that the operating environment will be certain and the prospects will be clear. Only in this way can BYD take the initiative to invest."
It is understood that this is not the first time that BYD has called for five years to reach the top. As early as the shareholders' meeting in June this year, Chairman Wang Chuanfu announced that he would become the world's largest car company within five years. Li Ke further stated in an interview in July, "We set this ambitious goal and relied on our own endogenous growth, which can be achieved without relying on the U.S. market." He also said that there is no need to acquire car companies to boost sales.
Data show that in 2025, Toyota Group's global sales will be approximately 11.32 million vehicles, Volkswagen Group's approximately 8.98 million vehicles, and BYD's 4.6 million vehicles. In the first half of 2026, Toyota sold 5.39 million vehicles and BYD 1.81 million vehicles. The gap is still nearly three times. If it takes five years to smooth things over, BYD will sell more than one million more vehicles every year.
However,
BYD is currently making a rapid overseas offensive, and overseas markets will be its core driving force to catch up with Toyota in the future.
BYD's factories in Thailand and Uzbekistan have been put into production, the Hungarian factory has started trial production in January and will be mass-produced in the fourth quarter, and factories in Brazil and Indonesia are under construction.
In September this year, BYD's wholesale sales of new energy passenger vehicles were 456,713 units, leading the way, including overseas sales of 179,877 units, a year-on-year increase of 153.9%.
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