KATHMANDU: BYD believes it can become the world’s largest automaker without entering the US market, as the Chinese EV giant accelerates its global expansion, particularly in Europe.
Speaking to the Financial Times, Stella Li, BYD’s Executive Vice President and Head of International Operations, said the company can surpass Toyota through organic growth rather than acquisitions.
“We don’t need the US market to achieve that,” Li said.
Her comments follow BYD founder and CEO Wang Chuanfu’s announcement last month that the company aims to overtake Toyota as the world’s largest automaker by sales within the next five years.
BYD sold 4.5 million vehicles globally in 2025, compared with Toyota’s 10.5 million. Despite being excluded from the US passenger car market due to tariffs and restrictions on Chinese automotive technology, BYD believes its international expansion can bridge the gap.
Europe has become one of BYD’s most important overseas markets. The company has rapidly expanded its presence there, with its market share more than doubling to 2.8% in May, overtaking brands including Ford, Tesla and Nissan, according to the European Automobile Manufacturers’ Association (ACEA).
Li also ruled out the need to acquire another automaker to achieve BYD’s growth ambitions, signaling that the company is focused on expanding its own brands instead.
BYD is also investing heavily in Europe, including nearly $2.28 billion USD to deploy 3,000 ultra-fast chargers by 2027. The charging network will support the company’s premium Denza brand, which recently unveiled the Denza Z electric supercar aimed at rivals such as the Porsche 911.
The company believes its next-generation flash-charging technology and expanding global footprint will strengthen its position as competition intensifies in the global automotive market.
