Chinese NEV Giant BYD Raises Annual Overseas Sales Forecast by 38%

Résumé détaillé

BYD expects to sell 1.8 million NEVs outside China in 2026, compared with the initial prediction of 1.3 million, Li Yunfei, general manager of BYD’s branding and public relations…

(Yicai) Nov. 10 -- Chinese new energy vehicle giant BYD has increased this year’s overseas sales forecast made at the beginning of the year by over 38 percent.

BYD expects to sell 1.8 million NEVs outside China in 2026, compared with the initial prediction of 1.3 million, Li Yunfei, general manager of BYD’s branding and public relations department, recently told the media, including Yicai. The firm sold just over 50,000 NEVs overseas in 2022.

Localized manufacturing and the construction of a global battery fast-charging network will create a deep moat for BYD overseas, Chairman Wang Chuanfu said on the 2025 earnings conference call, adding that the company aims for overseas markets to account for half of its total sales in the future.

BYD sold 3.62 million NEVs in the first 10 months of the year, of which 1.51 million were sold overseas, accounting for nearly 42 percent of the total, according to the firm’s latest production and sales data.

Beyond accelerating the roll-out of new models overseas, BYD is using premium models to open up the European and Middle Eastern markets and boost per-vehicle profit.

For example, BYD launched a new model under its Denza brand in the United Kingdom in July, priced from around CNY1.3 million (USD194,860), triple its price in China. Moreover, the firm recently unveiled its most expensive NEV model ever by presale price in the Middle East, estimated at around CNY2 million, with a deposit of CNY300,000 (USD44,970). Deliveries are slated for the second quarter of next year.

BYD’s management is confident of achieving the target of an average net profit per car sold overseas of about CNY20,000 (USD3,000) this year, according to a research report by Daiwa Securities. Regarding coping with overseas markets’ import tariffs, the management said the company’s plant in Brazil has already come online, and the one in Hungary will start production by the end of the year.

As for rising raw material and foreign exchange costs, BYD’s management noted that…

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