Automotive News Europe — 2024-03-27
Automotive Industry
BYD Chairman Wang Chuanfu the new energy vehicle market is in a "knockout round" with a battle for scale, cost and technology to be played out from 2024-26.
BYD has set a 3.6-m-unit sales target for 2024, a jump of 20% from its record-breaking sales in 2023, according to three people who are familiar with the matter.
The Chinese electric vehicle maker aims to sell 500,000 vehicles overseas in 2024, more than double in 2023's total, and one million units in 2025, Chairman Wang Chuanfu told a BYD investor meeting on Wednesday, 27 March 2024, the sources said. They declined to be named as the meeting was not open to the media.
The Shenzhen-based company told analysts of the sales goal in a call, people familiar with the matter said. Morgan Stanley analysts cited the figure in a report, adding that BYD is confident of steady profits in 2024, and calling it “impressive” against a challenging sector backdrop.