We’ve said it before and will say it again: Build Your Dreams (BYD) is coming. The Chinese automaker continues to gain momentum in global NEV sales and does not expect to hit the brakes anytime soon. According to multiple sources, BYD aims to have half of its vehicle sales come from other markets outside China within the next five years.
Most of the time we’re covering BYD, we’re either talking about low-cost BEVs with advanced technology, or marveling at the pace at which the Chinese automaker is becoming one of the most innovative and fast-growing companies in its respective segment.
BYD has already expanded its market reach throughout Asia and into new markets with sales and localized production around Europe, South America, and (maybe) North America. 2024 marked a record year for BYD’s financial results, tallying over $100 billion in sales. With Q1 of 2025 now behind us, BYD’s momentum has done everything but falter.
Through the first three months of 2025, BYD had sold over one million New Energy Vehicles (NEVs), up 60% from the 626,263 sold in Q1 2024. This led a tech research firm to predict once again that the Chinese automaker will finally overtake Tesla in total BEV sales this year.
In April, BYD outsold both Tesla and Mercedes-Benz in the UK and has seen its overseas sales double. If these trends continue, BYD could very well become the most recognizable vehicle badge on roads worldwide, and according to recent reports, that’s precisely what it is targeting.
BYD looks to become a global player in EV sales by 2030
As reported by Reuters, four people familiar with BYD’s business strategy state that the Chinese automaker has set a goal of having half of its vehicle sales come from outside its native China by the end of the decade. While brands like BYD remain deterred from entering a potentially fruitful market in the US due to trade tensions and tariffs, quick adoption and growth in South America and Europe provide evidence that BYD could reach its target.
If BYD did enter North America, more specifically the United States, its odds of garnering at least half its sales from other markets seem inevitable. However, that’s a pipe dream right now, given the current political and economic climate broiling between the US and China.
Per one of the sources, BYD has been sharing its 2030 sales target with small groups of investors since late 2024, citing continued expansions into Europe as a vital factor in said strategy. A second source attended a private event with BYD executives at the Shanghai Auto Show and relayed that BYD’s confidence in achieving the astronomical uptick in global sales comes from its speedy growth among Chinese consumers. For reference, nine out of every 10 vehicles sold by BYD last year came from a local Chinese buyer.
With such success at home in the last five years, BYD now feels confident it can adapt those learnings and find additional success in new markets overseas. If successful, BYD would become a major player in the global automotive discussion, rubbing elbows with household names like Toyota, Ford, and GM. That feat seems even greater when considering it would be the first Chinese automaker to reach such prominence.
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