BYD Seeks Overseas Dominance with a Target to Sell 50% Vehicles Outside China by 2030

Chinese automaker BYD Company (BYDDF) (BYDDY) is seeking to dominate the overseas markets, with a target to sell half of its vehicles outside the Chinese market by 2030, Reuters reported, citing sources familiar with the matter. The company is trying to rapidly expand in the international market and replicate its impressive growth in China over the past five years, backed by the demand for its affordable EVs (electric vehicles) and hybrids. 

BYD Aims for Robust International Expansion

Reportedly, BYD executives have highlighted the 2030 target to investors in small groups since late 2024. In particular, the company indicated that its European expansion is critical for achieving its goal.

The Chinese company’s target seems ambitious, even if we consider its stellar growth pace. This is because about 90% of the 4.27 million vehicles that BYD sold last year were from China. Meanwhile, BYD sold 417,204 units overseas in 2024, reflecting nearly 72% growth year over year.

Following some setbacks, BYD has revived its European business through various initiatives, including the expansion of its dealer network and the hiring of executives who are familiar with the local markets. BYD’s European sales, including the U.K., more than tripled in Q1 2025 to more than 37,000 vehicles from about 8,500 in the prior-year quarter.

BYD is already giving Tesla (TSLA) tough competition in the EV space. If the company meets its 2030 international expansion growth, it will emerge as a major threat to global players like Toyota (TM) and Volkswagen (VWAGY).

Is BYDDF a Good Stock to Buy?

Wall Street is highly bullish on BYD stock, with a Strong Buy consensus rating based on 12 unanimous Buys. The average BYDDF stock price target of $66.21 implies 33% upside potential. BYDDF stock has rallied about 47% year-to-date.

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