BYD Aims for 50% Overseas Sales by 2030 – Challenging Toyota's Throne

【PCauto】According to industrial insiders, BYD aims to sell half of its vehicles outside China by 2030. If BYD wants to achieve this goal, its global annual sales need to reach about 10 million vehicles, which means that BYD will directly compete with traditional auto giants such as Toyota and Volkswagen.

Currently, while BYD sold 4.27 million vehicles in China during 2024 - accounting for nearly 90% of its total sales - its international market remains in the early stages of expansion

In the first quarter of 2025, BYD's sales in the European market reached 37,200 vehicles, an increase of more than four times year-on-year, and its market share increased to 4.1%; In April, BYD sold a total of 79,086 new energy vehicles in regions outside China.

In 2024, BYD's sales in areas outside of China reached 417,000 vehicles, a year-on-year increase of 72%; In the first four months of 2025, its overseas sales reached 285,000 vehicles, accounting for more than 20% of total sales. Full-year overseas sales of BYD are projected to hit 800,000 units, a 92% increase. These figures show the initial success of BYD's global strategy and lay groundwork for its 2030 ambition.

BYD's confidence stems from its explosive growth in China's EV and hybrid sectors over the past five years.

With its core technologies such as blade batteries and DM - i super hybrid, BYD has created a series of highly competitive models, achieving great success in China. A third party familiar with BYD's investing strategy said BYD believes it has "the right products to replicate China's success elsewhere."

However, it's not easy to make global expansion, and BYD is still facing numerous challenges on its way to expand overseas market.

One of the challenges is the policy. The European Union's anti-subsidy investigation into Chinese electric vehicles may affect BYD's pricing and market share in the European market; In the U.S., higher tariffs and impending bans on Chinese EV hardware/software will almost entirely shut Chinese automakers out of the local automobile market.

Industrial insiders indicated that if BYD wants to achieve global expansion, it must achieve great success in major markets such as Germany, Japan, and India, which means that BYD must not only deal with regulation barriers but also perform well in the fiercely competitive international market with outstanding products and services.