BYD Aims for 50% Sales from Overseas

BYD Co., China's leading automaker, aims for nearly half of its sales to come from international markets by establishing global production hubs to navigate high tariffs. Executive Vice President Stella Li highlighted that the company is on track to reach 500,000 overseas sales this year, with plans to sell approximately 3.6 million electric and plug-in hybrid vehicles in 2024. To support its expansion, BYD is investing billions in production facilities across Europe, Asia, and South America, countering trade barriers imposed by the EU, US, and Canada. The company has already established a factory in Thailand and is developing additional sites in Hungary, Brazil, and Turkey, with plans for a plant in Indonesia and a production deal in Mexico. Furthermore, BYD is collaborating with Uber to integrate 100,000 EVs into the ride-hailing platform, enhancing its brand visibility internationally. These initiatives reflect BYD's strategy to capitalize on the growing demand for electric vehicles while overcoming significant market challenges.