BYD sets 2025 goal of 800,000 overseas vehicle sales

Chinese electric vehicle manufacturer BYD plans to more than double its overseas sales to over 800,000 units in 2025, up from 417,204 vehicles sold internationally in 2024. To achieve this, BYD intends to assemble vehicles locally in various markets to mitigate the impact of tariffs.

The company is focusing on expanding its presence in the United Kingdom, Latin America, and Southeast Asia. In the UK, BYD anticipates a significant increase in market share, citing the market’s openness to competitively priced products. In Latin America and Southeast Asia, the company sees substantial growth opportunities due to favorable governmental policies and consumer receptiveness.

To support its global expansion, BYD is investing in local manufacturing facilities. In Brazil, the company acquired Ford’s former plant in Camaçari, Bahia, with plans to produce up to 300,000 vehicles annually by 2028. This facility is expected to create numerous jobs and serve as a hub for BYD’s operations in Latin America.

In Europe, BYD announced plans to build a production base in Szeged, Hungary, marking its first passenger car factory on the continent. The plant aims to produce over 100,000 new energy vehicles annually, enhancing BYD’s competitiveness in the European market.

Additionally, BYD is expanding its footprint in Southeast Asia. In Thailand, the company commenced operations at a manufacturing plant in Rayong in July 2024, with an annual capacity of 150,000 vehicles. This facility represents BYD’s first wholly-owned plant outside China and is expected to employ 10,000 workers.

These strategic initiatives reflect BYD’s commitment to strengthening its global presence and addressing trade barriers by localizing production in key markets.