BYD targets world‑leading automaker status despite share slump

President Wang Chuanfu told shareholders that BYD aims to become the largest automobile manufacturer by volume within five years, overtaking current leader Toyota. The company reported sales of about 4.6 million vehicles in 2025, placing it sixth globally. Domestic deliveries fell more than 20 % in the first five months of the year, while exports rose 65 % to markets such as Brazil, the United Kingdom and Australia.

Investors reacted cautiously: BYD shares fell 4.3 % in Hong Kong and 1.6 % in Shenzhen after the announcement, adding to a loss of over 45 % in Hong Kong and roughly a third in Shenzhen over the past year. The firm highlighted the need to expand battery capacity, noting that the next‑generation Blade Battery 2.0 and related factory upgrades are current bottlenecks. A planned European plant in Hungary, intended to start production in 2025, has been pushed to the end of 2026, and a second plant in Turkey has not yet begun construction. BYD argues that building production capacity in Europe is essential to avoid high import tariffs and to sustain its global growth ambition.