Korean media: "Next target is Toyota," BYD aims to become the world's No. 1 by 2030!
On July 13, South Korean media outlet Today's Finance published an article stating that Wang Chuanfu, Chairman of Chinese electric vehicle manufacturer BYD, declared his ambition to become the world's largest automaker within five years.
BYD sold 4.6 million vehicles last year, ranking sixth globally. To surpass Toyota and claim the top spot, BYD must overcome the Japanese giant, which sold approximately 11.32 million vehicles worldwide last year—continuing its sixth consecutive year as the global leader.
Recently, BYD Chairman Wang Chuanfu said, "BYD will become the world’s largest automaker in size within five years."
He emphasized that strong export growth, coupled with technological advancements in battery and fast-charging technologies, would drive both domestic and international expansion.
In addition, BYD stated that this year it will focus on increasing production capacity of its second-generation blade batteries—the primary growth bottleneck for the company.
With last year’s global sales reaching 4.6 million units, BYD must surpass Toyota, whose annual sales were roughly 2.5 times higher than BYD’s.
BYD noted that although Toyota has achieved rapid growth in Southeast Asia and the Middle East this year, its market share is actually declining.
From January to May, BYD’s overseas exports grew by more than 65% year-on-year and the company leads in markets with lower trade barriers such as Brazil, the UK, and Australia.
Original source: toutiao.com/article/1870597182009348/
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