BYD Co. is expecting its electric vehicle exports to exceed earlier projections by around 15% in 2026, driven by strong overseas demand as the company navigates slowing growth in its domestic market.
According to sources familiar with the matter, BYD informed analysts during a recent briefing that it is confident exports could reach approximately 1.5 million vehicles this year, up from its earlier target of 1.3 million units announced in January.
The revised outlook comes despite weaker-than-expected fourth-quarter earnings and the company reporting its first annual profit decline in four years. Even so, BYD has maintained its position ahead of Tesla Inc. as the world’s largest EV seller.
Overseas markets have emerged as a key growth driver for the automaker, with exports surpassing 1 million units last year. This momentum is becoming increasingly critical as domestic sales in China show signs of slowing.
Analysts note that BYD’s profitability is now closely tied to its international performance. Citigroup Inc. has estimated that the company’s car sales in China could turn unprofitable in the first quarter, potentially making exports the primary contributor to earnings in its core automotive business.
The development underscores BYD’s growing reliance on global markets as competition intensifies at home and the company accelerates its international expansion strategy.
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