“BYD is the number one in China”, I believe everyone will have no objection to this statement, because facts speak louder than words. So, can BYD become the world’s No.1 automaker?
In 2023-2024, BYD has surpassed Volkswagen for two consecutive years and topped the list of China’s auto sales. Last year, BYD’s vehicle sales reached 4.2721 million units, surpassing SAIC Group for the first time and becoming the largest automaker in China.
However, the focus today is not on China’s number one, but the world’s number one. According to the public data in 2024, BYD ranked fifth in the global auto sales rankings, jumping 4 places compared to 2023, and its potential has been seen.
More importantly, among the top five automakers in the world in 2024, only BYD had a year-on-year growth (41.1%), while the others all showed a year-on-year decline, such as Toyota’s decline of 1.4%, Volkswagen’s decline of 3%, Hyundai Kia’s decline of 1%, and Stellantis’ decline of 12%. So in the long run, how much potential does BYD have to become the world’s top-selling automaker?
Technology is king, innovation is the basis
When technology leads, the most direct feedback is market sales, which is also BYD’s core bargaining chip to become the world’s top. Public information shows that BYD’s R&D investment has exceeded 6% for five consecutive years, of which 54.2 billion yuan was invested in R&D in 2024, ranking first among more than 5,000 A-share listed companies. In addition, BYD currently has more than 120,000 technical R&D personnel, which is also the largest number among global automakers.
In terms of specific technical achievements, in addition to blade batteries, DM-i super hybrid, Yunnian intelligent body control system, Yi Sanfang, Yi Sifang, etc., BYD launched technologies that can lead industry changes in 2025, such as Lingyuan intelligent vehicle-mounted drone system, Super e platform, etc. Among them, the megawatt flash charging technology has achieved “flash charging for 5 minutes, 400 kilometers of travel”, making charging as fast as refueling.
Multi-brand matrix, accelerating product updates
Product diversity is also an important factor in increasing sales. BYD currently adopts a multi-brand matrix strategy, including Dynasty, Ocean, Denza, Fangchengbao and Yangwang, covering major categories and different price points. Whether it is for home use, business use, off-road or personality, consumers can find corresponding needs.
These rich product lines are the confidence of BYD to impact the world’s first. Moreover, BYD is constantly iterating and updating its products to maintain its competitiveness. For example, Dynasty launched two flagship models, Han L and Tang L, in April this year.
As for Ocean Network, five new cars, Ocean-S concept car, Sea Lion 06DM-i, Sea Lion 06EV, Seal 06EV and Seal 06DM-i travel version, were launched at the 2025 Shanghai Auto Show.
As for Denza, Denza N9 is well-loved by users for its full sincerity and travel attributes that are suitable for both home and business use. The latest concept sports car, Denza Z, is equipped with many innovative technologies such as Yunni-M.
As for the Formula Leopard, the Titanium 3, which starts at 133,800 yuan, comes standard with the Eye of God C high-level intelligent driving, and also provides the Lingyuan system. The orders exploded as soon as it was launched.
Yangwang launched the Yangwang U7 and Yangwang U8L. The former is equipped with a fully active suspension driven by a floating motor, “Yi Sifang” four-wheel independent torque vector control technology, etc. The latter is positioned as a full-size executive luxury SUV, with more comfortable and luxurious attributes, making it highly anticipated.
Public data shows that in the first quarter of 2025, BYD sold a total of 1.0008 million new energy vehicles, a year-on-year increase of 59.81%. Obviously, with the introduction of new technologies and new products, BYD’s sales will continue to grow at a large exponential rate.
Going abroad and accelerating to the world
If you want to change from “China’s BYD” to “global BYD”, you must accelerate the promotion of products to the entire global market. Official data show that in 2024, BYD’s overseas sales of new energy passenger vehicles will reach 417,000 units, a year-on-year increase of 71.8%.
So far, BYD’s new energy vehicles have covered six continents around the world, covering more than 100 countries and regions, and have achieved good results.
In the 2024 domestic pure electric vehicle sales list in Japan, BYD surpassed Toyota (2038 vehicles) for the first time with 2223 vehicles, a year-on-year increase of 54%. This is also the first time that BYD’s sales have surpassed Japanese local brands.
In the Singapore market, BYD’s registered sales in 2024 were 6191 vehicles, a year-on-year increase of 337%, defeating Toyota, BBA, Tesla and other giants, and winning the sales army. In addition, in Malaysia, Thailand, Colombia, the Philippines and other places, BYD also became the No. 1 electric vehicle brand in sales in 2024.
According to statistics from Bloomberg, BYD achieved year-on-year sales growth of 551%, 734% and 207% in the UK, Spain and Portugal in January this year.
At present, BYD has formed a layout of four major overseas factories in Thailand, Uzbekistan, Brazil and Hungary. In 2025, BYD’s overseas centers will continue to be located in key markets in Europe, South America and Southeast Asia.
With continuous and innovative technology, a multi-brand and multi-product market strategy, and an accelerated overseas layout, BYD has too many cards to play. And don’t forget that BYD is good at “vertical integration”. The opening of the entire product chain gives it a great advantage in cost control.
At this time, the answer to the question of “Can BYD become the world’s No.1 car company” is much clearer. And everyone should know that BYD’s path to becoming the world’s number one is not the old path that Volkswagen or Toyota have taken, but a brand new and future-oriented new energy path. In other words, every step it takes is actually creating new history.
Leave a Reply