BYD Plans to Overtake Toyota Within Five Years

Rapid Growth in Production

BYD senior executive Stella Li made the bold growth statement after the company hit a major milestone. The carmaker recently reached a cumulative new energy vehicle production volume of 17 million units.

The company has rapidly accelerated its manufacturing pace over the last few years. BYD built its 1 millionth vehicle in May 2021 and reached 10 million units by November 2024. It took the company only six months to jump from 15 million to 17 million assembled vehicles.

Shifting Focus to Overseas Markets

Industry data shows that BYD stabilized its passenger car sales in May 2026 after eight consecutive months of domestic decline. The stabilization comes as the company shifts its main priorities towards foreign markets.

During the first half of 2026, BYD sold 1,777,321 cars globally, which marks a 16.1% drop year-over-year. While domestic deliveries in China fell by 45.9% to 795,169 units, rising overseas sales are expected to offset the home decline.

Independence and Future Strategy

Stella Li stated that BYD does not need to acquire other automakers to take the global crown from Toyota. However, she noted that the company might consider acquiring European luxury brands if a suitable opportunity arises.

BYD founder and chairman Wang Chuanfu also backed the five-year target to surpass the Japanese automaker. He said the goal will be achieved through rapid leveraging of charging technology and explosive international growth. BYD sold 4.55 million cars last year compared to Toyota's 10.5 million units.