BYD Aims for 800,000 Overseas Car Sales by 2025
BYD targets international sales of 800,000 cars by 2025, aiming to double its sales. The company plans to establish local assembly operations to overcome tariffs and expects considerable market share growth in Britain and favorable opportunities in Latin America and Southeast Asia.
Chinese electric vehicle manufacturer BYD has set an ambitious goal to sell over 800,000 cars internationally by 2025, effectively doubling its overseas sales. During an earnings call, BYD’s chairman informed analysts that the company plans to tackle tariffs by establishing local assembly operations in key markets. In 2024, BYD reported selling 417,204 units outside China, indicating a significant growth trajectory.
The chairman highlighted opportunities to gain a stronger foothold in the British market, citing its receptiveness to competitive Chinese products. Additionally, BYD sees promising growth potential in Latin American and Southeast Asian nations, where local governments and consumers display favorable attitudes toward Chinese brands.
As of Wednesday, BYD had not provided further comments regarding these initiatives, but their strategic plans suggest a robust expansion effort in the global electric vehicle landscape.
BYD’s objective to increase its international car sales underscores the shifting dynamics of the global automotive industry. The company is determined to leverage local assembly as a means to circumvent trade tariffs, thereby positioning itself favorably in markets where it identifies growth potential. BYD remains focused on enhancing its presence abroad, particularly in regions that welcome competition from Chinese manufacturers.
In summary, BYD aims to significantly enhance its international sales, targeting 800,000 cars by 2025. The firm plans to establish local assembly operations to navigate tariffs while expanding its market share, particularly in the UK, Latin America, and Southeast Asia. This strategic approach highlights BYD’s determination to capitalize on its competitive edge in the evolving global electric vehicle market.
Original Source: news.az
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