Chinese EV Maker BYD Aims for Global #1 Amid Stock Slump and New European Factory

Chinese electric‑vehicle manufacturer BYD saw its shares tumble more than 30 % on the Shenzhen exchange and over 45 % on Hong Kong this year, prompting its chairman Wang Chuan‑fu to reassure investors that the company intends to become the world’s largest automaker within five years. He pointed to strong overseas sales growth – exports rose 65 % in the first five months of the year – and ongoing technical advances such as its second‑generation Blade battery and fast‑charging technology.

Despite the share‑price weakness, BYD is pressing ahead with a new production plant in Szeged, Hungary, slated to start limited output by the end of 2026 and later scale to up to 300,000 vehicles annually. The facility is meant to bypass EU import duties and accelerate delivery to European customers. The company also plans to expand its export footprint in markets with low trade barriers, notably Brazil, the United Kingdom and Australia, while domestic sales face heightened competition.

The firm’s outlook remains optimistic even as US authorities have listed BYD among Chinese military‑linked firms, a move that could affect its image but is unlikely to hamper its European operations directly.