Chinese electric vehicle manufacturer BYD is setting its sights on selling up to 1.6 million cars abroad next year, signalling an aggressive push into international markets. The projection, outlined in a Citi report following discussions with BYD executives, represents a sharp increase from the anticipated 900,000 to 1 million overseas sales in 2025.
Citi noted that the surge will be driven by a wave of new model launches, with BYD’s overseas sales expected to be evenly distributed across Europe, North America, and ASEAN nations—each accounting for roughly one-third of the total.
The company also anticipates a reduction in capital expenditure during the final quarter of this year, with a more pronounced decline forecast for 2026. This reflects confidence that existing vehicle and battery production capacity will be sufficient to meet demand.
While Citi did not disclose BYD’s overall sales target for 2026, the automaker recently trimmed its 2025 goal by 16% to 4.6 million units following a slowdown in domestic sales. The company, which reported its steepest quarterly profit drop in over four years last month, has already shipped around 20% of its total output overseas this year—double the level seen in 2024.
BYD faces mounting competition in China’s budget EV segment from rivals such as Geely and Leapmotor. To strengthen its global footprint, the firm has constructed at least eight mega-factories in China over the past five years and is expanding its overseas assembly operations in countries including Hungary and Brazil. Plans are also underway for a third European plant, with Spain emerging as the leading candidate, according to previous reports.
