The Chinese carmaker has very ambitious plans for the future
BYD continues to grow at a rapid pace. The Chinese automaker produced and delivered nearly 4.3 million plug-in and electric vehicles in 2024, marking significant growth compared to the previous year (around 40% more in terms of volume). But BYD doesn’t intend to stop there and has even more ambitious plans. In fact, it aims to become the largest automotive brand in the world, as stated by Stella Li, Executive Vice President of BYD.
Our goal is to become the world’s number one automotive brand.
Our goal is to become the world’s number one automotive brand.
Last year, it narrowly missed out on being the world’s leading electric car manufacturer, but it will likely reach this milestone in 2025. Of course, it still has a long way to go to catch up with Toyota, given that the Japanese company sold nearly 11 million units as a group in 2024, but given BYD’s progress, it’s already a key player in the global automotive industry.
Recall that a recent analysis by Felipe Munoz, an analyst at Jato Dynamics , placed BYD in seventh place globally among automotive groups and even fourth place considering individual brands. The carmaker is moving 360 degrees, not only expanding its presence in various markets outside of China but also continuously introducing technical innovations. In addition to producing batteries directly , it is working on developing various innovations. Just recently, the company presented its new 1,000 V platform , which allows for ultra-high-power charging thanks to the new 1,000 kW charging stations it will soon begin installing in China.
PROJECTS FOR EUROPE
Why BYD is Paving the Way for the Future of Electric Vehicles
BYD also has specific and ambitious growth plans in mind for Europe to increase its market share. After recently launching the new Atto 2 , it will soon present the new Dolphin Surf , the European version of the Seagull , which is expected to be offered at a very attractive price and therefore could gain good customer response.
Two factories are also planned for the European market . The first is in Hungary , which will begin producing cars by the end of 2025, and another in Turkey , which will open next year. These production sites will also allow BYD to circumvent the problem of tariffs on electric cars made in China. Furthermore, discussions are already underway about a third plant, but much will depend on how European sales perform in the coming years.
