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BYD targets over 2.5 million overseas vehicle exports by 2027
The company also guided overseas shipments of 1.9 million to 2.0 million vehicles for 2026, and its tariff savings from local production could top 40,000 yuan per vehicle, according to broker notes.
Chinese electric vehicle maker BYD expects overseas shipments to exceed 2.5 million vehicles in 2027, according to two major brokerages that cited a meeting with company management, Reuters reported Tuesday.
Broker notes said BYD’s export target is supported by continued gains in overseas market share, an expanding fleet of dedicated car carriers, and growing local manufacturing, with management also pointing to shipping constraints that limited overseas sales this year.
BYD guided overseas shipments to reach 1.9 million to 2.0 million vehicles in 2026, nearly double last year’s level, Deutsche Bank said, adding that Hungary’s plant is expected to begin assembly in November or December and that management is evaluating additional overseas manufacturing sites.
The company’s approach also reflects tariff avoidance, Citi said: local production could help BYD sidestep the EU’s roughly 27% tariff on battery electric vehicles and Brazil’s 34% import tariff, yielding savings of more than 40,000 yuan per vehicle. Deutsche Bank also cited BYD plans to build 90,000 flash-charging stations by 2028, including 20,000 by the end of 2026, after which it would add 30,000 in 2027 and 40,000 in 2028. BYD is targeting a 25% share of China’s domestic car market, Reuters said, and its market share climbed to 18% in July from 8% at the start of the year.