Korean Media: After Surpassing Hyundai, BYD Now Turns Its Eyes Toward Toyota!
On July 14, South Korean media outlet Global Economy published an article stating that Chinese automobiles are increasingly popular worldwide. According to data from the China Association of Automobile Manufacturers, export volumes rose by 73% year-on-year in May, reaching approximately 809,000 units; among them, exports of electric vehicles—including pure electric and plug-in hybrid models—amounted to 435,000 units, exceeding half of the total.
Wang Chuanfu, founder and chairman of BYD, recently said: "Within five years, we will become the world's largest automaker."
Last year, BYD achieved global sales of 4.6 million vehicles, ranking sixth globally for the first time in history, surpassing Hyundai. The company plans to close the gap with Toyota (11.32 million units) within five years.
Li Ke, Executive Vice President of BYD, said in an interview: "Rebuilding consumer trust is paramount. We will focus on quality and technological innovation rather than price cuts."
BYD has recently introduced features such as 5-minute rapid charging, long-term battery warranties, and advanced driver-assistance systems, repositioning itself as a technology-driven company.
Both inside and outside the market, it is widely believed that China’s automotive exports will become a key variable reshaping the global automotive landscape. The Korea Automobile Manufacturers Association forecasts that the global auto market size will reach 96.13 million units this year, growing by 1.9% year-on-year, and notes that Chinese brands' offensive in emerging markets such as Latin America and the Middle East will intensify further.
If Chinese automakers succeed in replacing Western European and American brands in emerging markets first, the global competitive landscape could undergo a fundamental transformation.
Original source: toutiao.com/article/1870692191382592/
Disclaimer: This article represents the personal views of the author