BYD targets more than 2.5 million vehicle exports in 2027, brokerages say

Chinese electric vehicle maker BYD expects overseas shipments to exceed 2.5 million vehicles in 2027, two major ​brokerages said today (8 September), citing a group meeting ‌with company management.

BYD did not immediately respond to a request for comment.

• The export target is underpinned by continued market-share gains overseas, an expanding ​fleet of dedicated car carriers and a growing ​local manufacturing footprint, Deutsche Bank said in a note.
• BYD ⁠management guided overseas shipments to reach 1.9 million to ​2 million vehicles in 2026, nearly double last year's level, ​Deutsche Bank said. Management indicated that shipping constraints limited overseas sales this year and that export volumes could otherwise have been higher.
• BYD's Hungary ​plant is expected to start assembly in November or ​December. Management is also evaluating additional overseas manufacturing locations, according to Deutsche ‌Bank.
• Local ⁠production would help BYD avoid the EU's roughly 27% tariff on battery electric vehicles and Brazil's 34% import tariff, representing savings of more than 40,000 yuan ($5,961) per vehicle, which management ​sees as ​offsetting ramp costs, ⁠Citi said.
• BYD also plans to build 90,000 flash-charging stations by 2028, including 20,000 by the ​end of 2026, followed by another 30,000 ​in 2027 ⁠and 40,000 in 2028, Deutsche Bank said.
• The company is targeting a 25% share of China's domestic car market. Its market ⁠share ​climbed to 18% in July from ​8% at the start of this year.

The exchange rate was $1 = 6.7104 Chinese yuan renminbi (CNY).