BYD targets world‑leadership, aims to outsell Toyota within five years

Chairman Wang Chuanfu told BYD shareholders that the Chinese automaker will become the world’s number‑one car manufacturer within five years, overtaking Toyota’s sales lead. BYD sold about 4.6 million vehicles in 2025, placing it sixth globally, while Toyota recorded 11.3 million units that year.

The company’s export volume rose 65 % year‑on‑year in the first five months of 2026, with Brazil, the United Kingdom and Australia emerging as key overseas markets. BYD plans to begin assembling cars at a new plant in Hungary in the fourth quarter of 2026 and is evaluating a second European site, while work on a Turkish facility remains on hold. BYD also manufactures its own batteries, chips and hybrid powertrains and is rolling out ultra‑fast charging technology.

Domestically, BYD’s sales slipped 24 % in May, marking the 13th consecutive month of decline, and total deliveries for the first five months fell more than 20 % year‑on‑year. However, overseas sales in May surged 80 % to 160,644 units. The ambition comes amid a weakening Chinese market, intense competition from other EV makers, and broader efforts to localise production and reduce trade barriers in Europe.