BYD aims to be the world's first - "The world's largest car manufacturer within 5 years"
Senior executives at Chinese automaker BYD on Tuesday announced a goal to become the world's largest automaker within five years, in what could be an attempt to reassure investors after a sharp drop in the company's share price.
BYD, which ranked sixth globally in 2025 with 4.6 million vehicles sold, has struggled to regain growth as its domestic sales were hit by fierce competition from other local manufacturers. The company's shares have fallen more than 45% from their peak in Hong Kong last year, while its shares listed on the Shenzhen Stock Exchange have fallen 33%.
Speaking at the company's annual shareholders' meeting at its headquarters in Shenzhen, the chief executive told nearly 1,000 shareholders that production of the second-generation Blade battery was the main obstacle to growth this year, but he added with optimism that BYD would truly become the No. 1 global automaker.
To achieve that goal, the firm will need to surpass Toyota Motor, which sold more than twice as many vehicles as BYD in 2025. Toyota has seen its overseas market share decline in regions such as Southeast Asia and the Middle East, where Chinese automakers have recorded significant growth this year.
BYD's exports between January and May rose 65% compared to a year earlier, with Brazil, Britain and Australia ranking as its biggest markets, helped by relatively low trade barriers.
However, this growth failed to compensate for a weaker performance in domestic markets, as overall sales during the same period fell by more than 20%.
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