BYD wants to dethrone Toyota in five years. The problem is that first he has to fix what is happening in China
Wang Chuanfu, president of BYD, has full confidence that the next few years are going to be big for the company. However, the price of its shares is not following to the company’s exploits, and for that reason it has sent a message that is intended, above all, for its investors: the promise of becoming the world’s leading manufacturer in terms of scale. Wang spoke about the issue at the Chinese company’s annual shareholders meeting, held in Shenzhen on June 9. His words come at a delicate moment, since BYD’s actions have fallen more than 45% from its highs in Hong Kong in the last year, and 33% on the Shenzhen stock market. In fact, his promise failed to convince, as the next day, shares fell another 4.3% in Hong Kong and 1.6% in Shenzhen. This is how things are at BYD. Target: Toyota. BYD is already the largest electric car manufacturer in the world by sales, having surpassed Tesla last year. But Wang’s objective goes further, as he wants BYD become number one global in total vehicle volume, ahead of Toyota. And precisely, to achieve this, it would have to sell more than double what it is selling now. In 2025, Toyota sold 11.3 million vehicles; BYD, 4.8 million. The distance is enormous. Technology. At the meeting, Wang assured that the second generation Blade battery was the main growth bottleneck this year and has pledged to accelerate its production. He also highlighted the advances in ultra-fast charging, since this week BYD announced an investment of about 2,000 million euros in Europe to develop its Flash Charge infrastructure, with 1,500 kW of power and that would allow its cars to be charged from 10% to 70% in just 5 minutes. The firm showed it to us last April, when we were able to attend the official presentation of the Denza Z9GT. Along with this, the president of the company claimed that BYD has 3.15 million vehicles with intelligent driving already in circulation, accumulating 200 million kilometers of data per day, and that L3 and L4 level autonomous driving will arrive “sooner than expected.” “As soon as the regulation is ready, BYD will take off quickly,” Wang said. A domestic problem. The great tension of the moment is precisely at home. And the Chinese market, where BYD does most of its business, has become fiercely competitive. The price war between local manufacturers has pressured margins and hampered sales. Between January and May of this year, total deliveries fell more than 20% compared to the same period of the previous year, according to account Reuters. This internal bleeding is what worries investors, and no promises about Toyota have covered it up for now. Your business away from home. Exports are the other side of the coin, and there the panorama is different. In the first five months of the year, international sales grew 65% year-on-yearwith Brazil, the United Kingdom and Australia as the main destinations. In May alone, BYD sold more than 160,000 vehicles outside China, 80% more than in the same month of 2025. The goal for 2026 is to exceed one and a half million units exported, which would represent an increase of more than 40% over the 1.05 million last year. According to share According to CarNewsChina, Wang admitted at the meeting that the current trend aims to exceed even the initial goal of 1.6 million. Europe, opportunity and problems. The firm knows that to achieve its objectives, Europe is key to its expansion. Stella Li, chief international officer of BYD, confirmed to Reuters that the hungary plant will begin assembling cars in the fourth quarter of this year. Manufacturing locally is essential if you want to avoid the tariffs that the European Union has imposed on Chinese electric companies. However, the Hungarian factory is attracting some controversy, since organizations such as China Labor Watch have reported alleged violations of European labor legislation, and local authorities have sanctioned three companies linked to its construction for dumping excavation soils on surrounding agricultural land. The matter remains open. The shadow of the Pentagon. As if the problems in the stock market and the pressure in its domestic market were not enough, this week the United States Department of Defense added BYD to its list of “Chinese military companies”considering it a risk to national security. Beijing responded by calling the decision without a factual basis. BYD does not operate in the US market due to existing tariffsbut the label complicates its image and its possible future movements in that market. In Xataka | A German driver set out to discover how much he could stretch the tank of his old diesel car. And he has done 2,400 kilometers