Chinese EV makers gain overseas market share amid BYD’s stock slump

In South Korea, Chinese electric‑vehicle brands BYD and Zeekr surpassed Japanese imports for the first time in April 2026, registering 2,023 new EVs versus 1,974 from Japan and capturing about 6 % of the imported‑EV market. BYD alone out‑sold Toyota, Lexus and Honda combined, and both manufacturers plan to expand showrooms and service centres across the country.

A International Council on Clean Transportation (ICCT) report for Q1 2026 shows Chinese firms achieving the top share in the European electric‑bus segment for the first time, with three of the eight leading bus and coach models now Chinese. This marks a notable shift in zero‑emission commercial‑vehicle market dynamics in the EU.

Chinese automaker BYD saw its market capitalisation fall roughly 40 % from a 12‑month peak to 6.649 trillion yuan in June 2026. Production and sales slipped about 15 % year‑on‑year, while net profit plunged 55 % YoY, prompting investors to reclassify BYD from a high‑growth tech stock to a traditional manufacturer.

BYD also announced that its “Tiānshén zhī yǎn” driver‑assist system meets and exceeds the new national L2‑level standard, now fitted to over 3.15 million vehicles and generating more than 2 billion kilometres of driving data daily.

In China’s domestic market, foreign brands are losing ground as home‑grown EV makers dominate. Volkswagen’s share fell from 14.7 % in 2015 to 9.7 % in 2025, while the combined share of US marques dropped from 12 % to 5 % over the same period.

Meanwhile, manufacturers such as Hyundai, Toyota and Ferrari are adding simulated engine sounds, gear‑shift cues and vibration feedback to EVs to preserve the familiar feel of internal‑combustion vehicles, highlighting an industry trend toward more emotive driving experiences.