Shanghai. The Chinese giant of electric vehicles ByD aspires to double their sales outside China until exceeding 800 thousand cars in 2025 and will try to avoid tariffs assembling cars locally, its president told analysts at a conference on results on Tuesday.
Byd, who sold 417 thousand 204 units abroad in 2024, hopes to see A substantial increase
of its market share in the United Kingdom, which is Very open
to competitive Chinese products, according to a transcription of the call of Wang Chuanfu reviewed by Reuters.
The company also sees great opportunities
To grow rapidly in Latin American and Southeast Asian countries, where governments and people are friendly to Chinese brands, he said.
With governments from other countries, wearing or imposing tariffs against cars manufactured in China, Byd plans to maintain its cost advantage by buying key components in China and assembling vehicles in local markets, Wang added, without specifying which countries he was referring to.
Byd currently builds a factory in Brazil, its largest market outside of China, although development was affected last year by accusations of labor abuses. The manufacturer also builds factories in Thailand, Hungary and Türkiye.
Wang said that the automotive firm had no plans to sell in Canada and the United States in the short term due to geopolitical events.