BYD chairman Wang Chuanfu wants his company to be the world’s largest automaker by 2030. He said so at the annual shareholder meeting in Shenzhen on June 9, according to Automotive News.
“I believe BYD will achieve significant [sales] growth by 2030,” Wang said. “That is, in five years, it will [truly become] the world’s No. 1 in terms of scale.”
It is a long way up. BYD sold 4.6 million vehicles in 2025. Toyota sold 11.3 million and has held the top spot for six years running. BYD is currently the fifth-largest auto group, behind Toyota, Volkswagen Group, Hyundai Motor Group and Stellantis.
Growth has carried on in 2026. BYD’s May deliveries outside China rose 80%, and the company expects to beat its overseas target of 1.5 million vehicles this year. It is also getting ready to sell cars in Canada, next door to the US market.
Batteries and exports
Wang said the plan leans on advanced battery technology and further expansion abroad. Higher output of BYD’s new fast-charging lithium iron phosphate batteries, he told shareholders, will add up to 30,000 units of monthly sales for the rest of the year. They are one of several “disruptive technologies” due next year.
Chinese brands competed mostly on price about a decade ago. Since then they have improved their technology, design and quality without giving up much of that price advantage. Industry-leading batteries, faster software updates and shorter development cycles have helped them take share from established brands in new markets.
