According to reports, Chinese electric vehicle giant BYD is planning to double its sales outside China to more than 800,000 cars in 2025 and will look to overcome tariffs by assembling cars locally.
“BYD, which sold 417,204 units overseas in 2024, expects to see a substantial rise in its market share in Britain, which is very open to competitive Chinese products,” says Wang Chuanfu.
The company also sees "great opportunities" to grow rapidly in Latin American and Southeast Asian countries, where the governments and people are friendly towards Chinese brands.
Wang says, “With governments abroad weighing or levying tariffs against Chinese-made cars, BYD plans to keep its cost advantage by purchasing key components from China and assembling the vehicles in local markets."
"A BYD representative confirmed the target of doubling overseas sales to 800,000 units this year,” adds Wang.
BYD is leading an overseas push by Chinese automakers, opening showrooms in markets from Australia to Germany as it seeks a respite from a brutal price war at home.
The company will continue building factories overseas without partners as it has abundant funding, Wang added.
BYD is currently building a factory in Brazil, its biggest market outside China, although the development was hit last year by allegations of labour abuses. The carmaker is also building factories in Thailand, Hungary and Turkey.
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Wang says, “BYD had no plans to sell into Canada and the United States in the short term due to geopolitical developments. The Trump administration has maintained duties of 100 percent on Chinese-made EVs, as has Canada.”