BYD Aims to Become World's Largest Automaker in Five Years

BYD Chairman Wang Chuanfu has declared the Chinese electric vehicle giant aims to become the world's largest automaker by sales volume within the next five years. The announcement was made on Tuesday during the company's annual shareholder meeting in Shenzhen, as Wang sought to reassure investors amid a prolonged decline in the company's share price and domestic sales.

To achieve this goal, BYD would need to surpass Toyota, which sold approximately 11.3 million vehicles in 2025, more than double BYD's 4.6 million sales that same year. The company, which already leads the world in electric vehicle production after halting pure internal combustion engine vehicles in 2022, ranked as the sixth-largest global automaker in 2025.

Wang attributed the company's long-term growth prospects to its expanding export business and technological advancements. He specifically highlighted the second-generation Blade Battery and a new Flash Charging system as key drivers. Wang noted that demand for vehicles equipped with the new battery technology has exceeded production capacity, with orders for some new models surpassing 100,000 units.

The chairman's ambitious vision comes at a challenging time...