Reuters: BYD Confirms Overseas Sales Target of 1.5 Million Units
On March 30, Reuters (Japanese edition) reported that after releasing its quarterly financial results on the 30th, Chinese electric vehicle giant BYD held a conference call with market analysts.
The company set a target to exceed 1.5 million units in overseas sales by 2026 and expressed "strong confidence" in achieving this goal. According to two individuals familiar with the meeting's content, the company indicated that overseas markets could eventually account for approximately half of its total business.
BYD previously announced an annual export target of 1.3 million units in January this year—lower than the maximum target of 1.6 million units mentioned earlier in November to U.S. financial giant Citigroup.
Last year, overseas sales accounted for 22.7% of BYD’s total sales, more than double the figure from the previous year. In the first two months of this year, the share rose to 50%, doubling again.
A BYD official revealed that the company plans to expand into international markets through local production. Its factories in Europe and Indonesia are expected to begin large-scale production around March to April this year.
BYD emphasized it does not intend to engage in price wars, instead announcing continued investment in research and development, focusing on technological innovation.
Original article: toutiao.com/article/1861146028890124/
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