"Our overseas market will account for a relatively large proportion of our global sales in the future," said BYD's Executive Vice President Stella Li recently. This statement highlights BYD's strategy to significantly expand its international footprint.
Li later clarified that she predicts BYD's overseas market would account for "nearly half" of the company's total sales in the future. This bold prediction underscores the company's ambition and growth strategy as it seeks to diversify revenue streams.
BYD Europe aims to triple its market in the region by 2025, hoping to beat big names like Tesla and Volkswagen. The competitive aspirations reflect the growing challenges that established firms face from newer entrants.
With a 40% year-over-year increase in electric and plug-in hybrid sales in Q2 2024, BYD's performance underscores its effective market strategies and adaptation to evolving consumer preferences in the EV landscape.
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