BYD, China’s leading electric vehicle manufacturer, is preparing for a major international push, aiming to sell as many as 1.6 million cars outside its home market next year.
The ambitious forecast, revealed in a Citi report following talks with company executives, marks a significant leap from the 900 000 to 1 million overseas units expected in 2025.
The growth is set to be powered by a series of new model launches, with BYD planning a balanced regional strategy. Europe, North America and ASEAN countries are each projected to account for roughly one-third of overseas sales, according to Citi.
In addition, BYD anticipates a reduction in capital spending during the final quarter of this year, with an even steeper decline expected in 2026. This confidence stems from the belief that existing production capacity for vehicles and batteries will be sufficient to meet the rising demand.
Although Citi did not disclose BYD’s overall sales target for 2026, the automaker recently revised its 2025 goal down by 16% to 4.6 million units amid weakening domestic demand. The company, which posted its sharpest quarterly profit drop in over four years last month, has already exported around 20% of its total output this year, twice the level achieved in 2024.
Competition in China’s budget EV segment is intensifying, with rivals such as Geely and Leapmotor vying for market share. To strengthen its global presence, BYD has built at least eight large factories in China over the past five years and is expanding assembly operations abroad, including in Hungary and Brazil. Plans for a third European plant are also in motion, with Spain tipped as the frontrunner.
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