BYD chairman vows to become world’s top automaker by 2030

BYD Chairman Projects World’s Largest Automaker Status by 2030

At BYD’s 2025 annual general meeting held on Monday in Shenzhen, Chairman Wang Chuanfu declared that the Chinese automaker aims to become the world’s largest by scale within five years, laying out a roadmap built on next-generation battery technology and aggressive global expansion.

A Five-Year Plan Powered by Technology

Wang presented what he called a “mid-to-long-term vision” anchored in BYD’s second-generation Blade Battery and ultra-fast charging innovations, according to Chinese media reports. The chairman said BYD plans to adopt these proprietary technologies over the next three to five years, positioning the company to overtake current global leaders Toyota and Volkswagen in total vehicle output by 2030.starnewskorea

Wang also pointed to BYD’s intelligent driving ambitions, noting that 3.15 million BYD vehicles equipped with smart-driving systems are currently on roads worldwide, accumulating 200 million kilometers of driving data daily. He predicted that Level 3 and Level 4 autonomous driving will enter commercialization “faster than market expectations.”starnewskorea

Battery Constraints and Surging Demand

The bullish outlook comes as BYD grapples with production bottlenecks. Wang acknowledged in May that the company’s battery capacity remains tight as multiple new models ramp up across its Dynasty, Ocean, Denza, and Yangwang brands, with monthly output climbing steadily as additional capacity comes online.carnewschina

Separately, Executive Vice President Stella Li told CNBC that China’s EV penetration rate will rapidly push toward 80 percent, driven by innovation and government support. Li noted that domestic demand for BYD’s flash-charging EVs — which can reach 70 percent charge in five minutes — is running at roughly twice the company’s current delivery capacity.longbridge

Global Ambitions Meet Headwinds

BYD has set an overseas sales target of 1.6 million units for 2026, a figure Wang said will likely be surpassed given current trends. The company previously signaled ambitions to sell half its vehicles outside China by 2030, with factory investments underway in Hungary, Turkey, and other markets.reuters

Yet the company faces challenges at home. Ahead of the AGM, analysts noted that BYD’s first-quarter profit fell 55 percent amid a fierce domestic price war, even as record export growth continued. China’s new-energy vehicle penetration reached a record 62.9 percent last month, according to the China Passenger Car Association, suggesting the domestic market may be approaching a ceiling that makes overseas growth essential.ad-hoc-news