Chinese electric vehicle (EV) maker BYD (BYDDF) (HK:1211) is seeking to capture growth opportunities in international markets as competition in the domestic market heats up. According to the South China Morning Post, BYD expects its exports to account for about 20% of its overall sales in 2025.
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Last week, The Wall Street Journal reported that BYD’s August sales (based on new car registrations) in Europe tripled year-over-year to 9,130 vehicles across the European Union, according to the European Automobile Manufacturers’ Association. In fact, including the U.K., Iceland, Liechtenstein, Norway, and Switzerland, August registrations totaled 11,455 vehicles, reflecting robust demand for BYD’s electric and hybrid vehicles.
BYD Eyes International Growth
BYD’s 20% exports estimate for 2025 reflects a major jump from international sales of less than 10% of the total 4.26 million deliveries last year. The South China Morning Post cited Li Yunfei, BYD’s general manager of branding and public relations, who expects 800,000 to 1 million deliveries outside mainland China this year, compared with estimated total sales of 4.6 million units.
The company’s optimistic outlook for overseas sales is supported by enhanced logistics and new models. Yunfei highlighted that BYD’s own fleet of car-carrier ships is fueling the surge in exports. Notably, the company now has eight large vessels, with the largest one capable of transporting 9,200 vehicles.
Furthermore, BYD aims to double its showrooms in Europe to 2,000 byt 2026 and create a complete local supply chain for its European production. The company’s assembly plant in Hungary, which boasts an annual capacity of 150,000 units, is scheduled to start production in early 2026. BYD also has factories in Thailand and Brazil.
BYD has grown rapidly in recent years, surpassing EV giant Tesla (TSLA) as the world’s top EV seller in 2024. The growing focus on international business comes as BYD and peers face intense competition and demand saturation in the Chinese EV market. In fact, BYD is facing regulatory scrutiny in China for triggering price wars by offering excessive discounts, which impact the margins of EV makers. Earlier this month, Reuters reported that BYD has lowered its 2025 deliveries goal to 4.6 million vehicles from 5.5 million units.
Is BYDDF Stock a Good Buy?
Despite ongoing challenges, Wall Street has a Strong Buy consensus rating on BYD Co. stock based on eight Buys and two Hold recommendations. The average BYDDF stock price target of $25.64 indicates 87.5% upside potential.
