In an ambitious move, BYD, the world’s leading new energy vehicle (NEV) manufacturer, has set a target to sell approximately 1 million cars overseas by the end of 2025. This announcement was made by Li Yunfei, the General Manager of Brand and PR at BYD, who emphasized the company’s intent to double its overseas sales volume in the first half of 2025. Achieving this goal could position BYD as a formidable competitor to top Chinese car exporters like SAIC and Chery.
BYD’s international sales have seen remarkable growth since 2022. In the previous year alone, the company sold 417,204 vehicles outside of China. By the first half of 2025, that number had already exceeded 472,000 units, with aspirations to reach at least 944,000 units by the end of the year. This ambitious target reflects BYD’s robust expansion strategy in the global market.
Global Expansion and Production Facilities
Currently, BYD operates in over 100 international markets and has established overseas production plants in Uzbekistan and Thailand. The company is also planning to construct additional manufacturing facilities in Turkey, Hungary, Brazil, and several other countries. This strategy aims to mitigate the impact of tariff barriers and enhance BYD’s adaptability in the global automotive landscape.
For instance, last month, BYD exported over 900 units of its Thai-manufactured Dolphin electric cars to Germany, Belgium, and the UK, circumventing an additional tariff of 20.7% on top of the existing 10% customs duty. By expanding its production capabilities outside of China, BYD aims to operate more flexibly and strengthen its international presence.
Financial Performance and Market Challenges
Notably, overseas sales have become a significant revenue stream for BYD. According to a report by the Rodium Group, the company earns approximately $5,000 in profit for each vehicle sold in Europe, despite facing high tariffs. In contrast, the net profit per vehicle sold in China was about 9,000 yuan (approximately $1,260) last year.
The push for exports has become increasingly vital for BYD as its domestic growth has begun to slow. While reports indicated that production in China was being scaled back due to rising inventories, company officials refuted these claims. Nevertheless, the growing inventory levels have led BYD to implement steep discounts across 22 models in May this year, highlighting the challenges the company faces in maintaining its domestic market momentum.
Overall, BYD sold a total of 2,458,914 passenger vehicles globally within the first seven months of the year, marking a 26.2% increase compared to the same period last year, according to data from China EV DataTracker. However, growth has started to decelerate, with July sales reaching 341,030 vehicles, showing only a 0.1% year-over-year increase—the lowest growth rate in the past 1.5 years.