BYD is stepping up its overseas push, targeting more than 2.5 million vehicle sales outside China in 2027 as a fierce domestic price war continues to pressure profitability.
The Chinese automaker has also raised its overseas sales target for 2026 to between 1.9 million and 2 million vehicles, up from its previous target of 1.5 million, according to a Deutsche Bank Research note based on an investor briefing on Monday.
The latest 2027 target would mark a sharp increase from the 45,000 vehicles BYD sold overseas in 2022, highlighting the company’s accelerating expansion into markets including Europe, Southeast Asia, Latin America and Australia.
Overseas deliveries accounted for 43% of BYD’s total sales last month after more than doubling year-on-year to a record level. Overseas revenue also surpassed domestic sales for the first time in the first half of 2026, helping the company break a prolonged profit decline.
Deutsche Bank said BYD’s international profitability was guided at around 20,000 yuan, or about US$2,980, per vehicle despite currency headwinds. Management expects profitability to remain around that level in the near term as higher volumes are offset by continued investment in overseas sales networks and production capacity.
BYD is also expanding manufacturing closer to its overseas markets. Production has started at its Indonesian plant, while its Brazilian facility is ramping towards annual capacity of 300,000 vehicles and its Hungary plant is expected to begin production by December.
The company is evaluating additional manufacturing sites globally while expanding its dedicated vehicle carrier fleet to address shipping constraints that had limited exports earlier this year.
BYD also aims to establish 90,000 super-fast charging stations by the end of 2028, including 6,000 overseas. Supply constraints for its second-generation Blade Battery are expected to be resolved by the first quarter of 2027.
Bloomberg
