BYD Chairman and CEO Wang Chuanfu believes the Chinese automaker has what it takes to become the world’s largest car manufacturer within the next five years, a bold statement aimed at restoring investor confidence after a difficult period for the company’s stock.
Wang made the remarks during BYD’s annual shareholder meeting at the company’s headquarters in Shenzhen, at a time when the brand is dealing with rising pressure from fierce competition in China’s auto market and softer domestic sales.
Aiming To Overtake Toyota
According to Wang, BYD’s goal is to take the global lead in vehicle sales within five years. He pointed to the company’s fast-growing export business and continued progress in key technologies, especially battery development and ultra-fast charging, as the main pillars behind that ambition.
Reaching that position, however, would require BYD to surpass Toyota, the current global benchmark in vehicle sales. In 2025, Toyota sold more than twice as many vehicles as BYD. The Chinese manufacturer ranked sixth worldwide last year after delivering 4.6 million vehicles.
Second-Generation Blade Batteries Take Center Stage
During the meeting, which was attended by around 1,000 shareholders, Wang said one of BYD’s biggest challenges this year is increasing production of its second-generation Blade batteries.
He explained that expanding manufacturing capacity for these batteries will be essential to supporting BYD’s next phase of growth, both in China and across international markets. For a company that has built much of its identity around battery expertise, the ability to scale this technology could play a decisive role in its global ambitions.
BYD later confirmed that Wang had expressed his desire for the company to become the world’s largest automaker, although it did not share further details about the discussions that took place during the shareholder meeting.
Exports Continue To Gain Momentum
BYD’s international expansion has become one of its strongest growth engines. Between January and May, the company’s exports rose by 65% compared with the same period last year.
Brazil, the United Kingdom, and Australia were among BYD’s best-performing overseas markets, supported in part by relatively lower trade barriers for Chinese-built vehicles.
Figures from the China Passenger Car Association also indicate that Chinese automakers have been expanding their presence across Southeast Asia and the Middle East. At the same time, several traditional carmakers, including Toyota, have seen their market share come under pressure in parts of those regions.
China Remains A Challenge
Even with strong export growth, BYD has not been able to fully offset weaker demand at home. The company’s total vehicle deliveries fell by more than 20% during the first five months of the year.
This decline reflects the intensity of competition inside China’s electric vehicle market, where local manufacturers continue to fight aggressively for buyers. That pressure has led to tighter pricing, heavier discounts, and increased strain on profit margins.
Shares Still Under Pressure
BYD’s stock performance has also reflected these challenges. Over the past year, the company’s shares have fallen more than 45% from their peak on the Hong Kong Stock Exchange, while its Shenzhen-listed shares have dropped by around 33%.
The pressure continued on Wednesday, with BYD shares falling 4.3% in Hong Kong and 1.6% in Shenzhen, showing that investors remain cautious despite the company’s long-term global ambitions.
