Chinese NEV giant BYD is sharpening its focus on international markets as growth conditions in China become more challenging, even after overseas expansion helped the company overtake Tesla as the world’s largest electric-vehicle manufacturer last year.
At a media briefing in Shanghai, Li Yunfei, general manager of BYD’s brand and public relations division, said the company aims to sell 1.3 million vehicles outside China in 2026. That would represent nearly 25% growth compared with the roughly 1.05 million units delivered overseas in 2025.
The renewed push abroad comes at a time when momentum in BYD’s home market is facing headwinds. Demand in China is being pressured by the gradual rollback of government incentives for EV purchases, while competition among domestic automakers continues to intensify. As a result, overseas markets are becoming increasingly important in supporting BYD’s growth, even as the company navigates a tougher environment at home.
Still, the new overseas target appears more conservative than some earlier market expectations. In November, Citigroup said BYD had previously discussed a goal of selling between 1.5 million and 1.6 million vehicles abroad in 2026 following meetings with management. The latest guidance may therefore be seen as a more measured approach, potentially shaping investor views on the pace and ambition of BYD’s global expansion.
In total, BYD sold approximately 4.6 million new energy vehicles in 2025. Around 2.26 million of those were fully electric vehicles, with the remainder made up primarily of plug-in hybrid models sold in China. This mix highlights BYD’s dual powertrain strategy as it balances pure EV growth with continued demand for hybrids in its domestic market.
Overseas deliveries in 2025 exceeded 1.04 million units, including passenger vehicles and pickup trucks. According to IT Home, this figure surpassed BYD’s total international sales for all of 2024, underscoring the growing contribution of overseas markets to the company’s overall volume. These deliveries now form the baseline for BYD’s 2026 growth target.
Growth outside China was supported by expanded operations across multiple regions. BYD strengthened its presence in Europe while accelerating market entry and sales in Latin America and Southeast Asia. By the end of 2025, the company’s vehicles had reached more than 110 countries and regions worldwide, reflecting the rapidly widening footprint of BYD’s global expansion strategy.
