BYD plans to increase its foreign sales to 800,000 units by 2025
BYD, the Chinese electric vehicle manufacturer, plans to treble its international sales to more than 800,000 vehicles by 2025 and would try to avoid tariffs by building cars locally, according to its chairman during an earnings presentation.
According to a transcript of Wang Chuanfu‘s call, BYD hopes to see «a substantial increase» in its market share in the United Kingdom, which is «very open» to competitive Chinese products. In 2024, the company sold 417,204 units internationally.
A BYD official acknowledged the company’s objective of increasing international sales to 800,000 units this year, but declined to comment on the remainder of Wang’s remarks.
BYD is spearheading the Chinese automakers’ push overseas, with shops opening in nations ranging from Australia to Germany, as it seeks relief from a severe price war at home.
Wang stated last year that BYD expects exports to help maintain profitability. During Tuesday’s meeting, he stated that he expected the majority of BYD’s profits to come from abroad markets «at a certain stage.» He did not clarify which stage.
Wang stated that the company will continue to build plants overseas without partners because it has plenty of financing.
