BYD's Global Ambition: Racing to Rival World’s Leading Automakers
BYD, China's top automaker, plans to sell half its vehicles overseas by 2030, positioning itself as a competitor to global giants like Toyota and Volkswagen. Despite being barred from the U.S. market, BYD eyes expansion in Europe and Latin America, leveraging its success with affordable EVs and hybrids in China.
BYD, China's foremost automaker, is setting its sights on selling half its vehicles outside China by 2030, as revealed by sources with knowledge of the company's strategy. Achieving this target would position BYD as a contender against global giants such as Toyota and Volkswagen.
The company plans to expand aggressively in Europe and Latin America while remaining blocked from the U.S. market due to trade barriers. Despite nine out of ten cars being sold in China last year, the aim for 2030 distribution is a 50/50 split worldwide, challenging conventional leaders in the industry.
BYD's rapid domestic growth, driven by affordable electric and hybrid cars, serves as a springboard for international aspirations. However, the expansion is not without its challenges, as the company navigates European tariffs and strategic missteps in its new markets.
(With inputs from agencies.)
Google News