The global automotive landscape is shifting rapidly, with electric vehicle makers challenging traditional giants.
China's BYD, the world’s largest EV manufacturer, is making waves. After dominating its home market, BYD is now poised to overtake household names like Ford and Honda in global sales.
This marks a significant moment for an industry adapting to a greener future, according to Ziare.
BYD has already sold 3.76 million vehicles in the first 11 months of this year, including over half a million units in November alone. The company is expected to surpass its 2024 target of 4 million vehicles.
On Par With General Motors and Stellantis
Most of these sales come from China, where the brand’s market share grew to 16.2% this October, up from 12.5% last year.
Analysts project that BYD could sell over 6 million vehicles in the next 12 months. That would place it on par with industry leaders like General Motors and Stellantis.
To meet growing demand, BYD has rapidly expanded its operations. Between August and October, the company added production capacity for 200,000 vehicles and hired an additional 200,000 workers.
Its total workforce now stands at nearly one million. Such aggressive growth underscores BYD’s ambition to dominate the EV market globally.
Founded in 1995, BYD initially focused on battery production before venturing into electric vehicles. Its deep expertise in batteries has given it a significant edge, allowing it to produce affordable and reliable EVs.
Unlike competitors, BYD controls nearly every aspect of production, from battery cells to assembly lines, making it a standout in a competitive field.
Looking ahead, BYD has set even bigger goals. By 2025, the company plans to deliver 5 to 6 million vehicles annually.
As global demand for EVs rises and governments push for cleaner transportation options, BYD is well-positioned to capitalize on this shift.
