Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

China’s BYD Unleashes Electric Car Invasion: Eyes 750,000 Exports Annually

Daniel Kim Views  

China’s BYD is expected to make significant gains in its global strategy as it substantially increases its vehicle export volume—the promotional image of the electric vehicle launched by China’s BYD in the European market.

Securities firm JP Morgan predicts China’s BYD will succeed wildly by expanding electric vehicle launches and production investments beyond its domestic market and into foreign countries.

On the 10th, Bloomberg cited a JP Morgan report predicting BYD will achieve vehicle sales of up to 6 million units over the next two years.

The volume sold in countries other than China is predicted to be around 1.5 million units.

BYD relies primarily on the domestic Chinese market for its electric and hybrid vehicle sales.

Last year, BYD’s total vehicle sales were 3.02 million units, an increase of about 62% compared to 2022. Of these, export volumes were around 240,000 units, a single-digit percentage.

However, if JP Morgan’s forecast is accurate, the average annual export volume will increase to 750,000 units over the next two years.

JP Morgan noted that BYD has been strengthening its overseas market strategy and increasing localization efforts to circumvent price competition in the domestic Chinese market. They added that BYD is expected to be re-evaluated after seeing the outcomes of this strategy within the next one to two years.

BYD is steadily increasing the launch of electric vehicles in markets such as Southeast Asia, Europe, and Japan. Plans to expand into more countries, including Korea, are being implemented sequentially.

Investments are also being made to establish automobile production bases in Thailand, Indonesia, Brazil, and Hungary. The aim is to increase competitiveness in key markets through localization strategies.

JP Morgan predicted that the operation of BYD’s four overseas factories starting in 2026 will provide significant growth opportunities.

In this report, JP Morgan set the target prices for BYD listed on the Hong Kong and Shenzhen stock exchanges at 475 Hong Kong dollars (approximately $61) and 440 yuan (roughly $60.5), respectively. This is more than an 80% increase from the previously set target prices.

As of Bloomberg’s tally, BYD’s stock is trading at 241.4 Hong Kong dollars (approximately $31) on the Hong Kong stock exchange on the 10th. This means JP Morgan predicts a stock price increase of nearly 97%. Reported by Kim Yong Won.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Tesla Cybertruck Outsells Ford F-150 Lightning in May
  • U.S. vs. China: How Biden's New Rule Crashed the NASDAQ
  • SpaceX and X to Call Texas Home, Musk Blames California Law
  • Cathie Wood Bets Big on Nuclear Future, Invests $2.4 Million in Oklo
  • Elon Musk's Public Support for Trump Sends Tesla Shares Skyrocketing
  • Trump Shooting Caused 10% Surge in Chinese Tech Company

Weekly Best Articles

  • Could We Run Out of Ketchup? California Drought Threatens Tomato Supply
  • 4 Easy Tips to Keep Your Corn Freshness All Summer Long
  • How Regular Sauna Use Can Help Control Menopause Weight Gain
  • 10 Do’s and Don’ts of Peroxide Soda: Safety Tips You Need to Know
  • Passenger Forced to Pay $700 for Reclining His Seat on a Train – Here’s Why
  • 10 Easy Hacks to Prevent Armpit Sweat and Smell
  • Why You’ll Never See Trash at Disneyland: The 30-Foot Rule
  • Hollywood’s Next Big Hits: Top 10 Upcoming Movies You Can’t Miss
  • Barcelona Bumps Up Tourist Tax: Travel Just Got Pricier!
  • Tesla Cybertruck Outsells Ford F-150 Lightning in May
  • First-of-its-Kind Suicide Capsule to be Used in Switzerland
  • South Korea’s Loudspeaker Attack Has North Korea on Edge

You May Also Like

  • 1
    Hollywood's Next Big Hits: Top 10 Upcoming Movies You Can't Miss

    ENTERTAINMENT 

  • 2
    Barcelona Bumps Up Tourist Tax: Travel Just Got Pricier!

    LIFESTYLE 

  • 3
    First-of-its-Kind Suicide Capsule to be Used in Switzerland

    DEBATE 

  • 4
    South Korea's Loudspeaker Attack Has North Korea on Edge

    ASIA 

  • 5
    Russia Hints at Nuclear Options in Response to U.S. Missile Plans in Germany

    WORLD 

Popular Now

  • 1
    Young Chinese Pay $1,500 to Play War Games in Russia For Fun – Here’s Why

    DEBATE 

  • 2
    Trump's Win Could Spell Disaster for China's Economy

    DEBATE 

  • 3
    They Started as Brothers and Ended Up Sisters — Here’s How

    LIFESTYLE 

  • 4
    Is This the End of Biden’s Run? Top Democrats and Obama Weigh In

    WORLD 

  • 5
    Dubai Princess Drops Divorce Bomb on Instagram Just Months After Baby's Birth

    LIFESTYLE 

Weekly Best Articles

  • Could We Run Out of Ketchup? California Drought Threatens Tomato Supply
  • 4 Easy Tips to Keep Your Corn Freshness All Summer Long
  • How Regular Sauna Use Can Help Control Menopause Weight Gain
  • 10 Do’s and Don’ts of Peroxide Soda: Safety Tips You Need to Know
  • Passenger Forced to Pay $700 for Reclining His Seat on a Train – Here’s Why
  • 10 Easy Hacks to Prevent Armpit Sweat and Smell
  • Why You’ll Never See Trash at Disneyland: The 30-Foot Rule
  • Hollywood’s Next Big Hits: Top 10 Upcoming Movies You Can’t Miss
  • Barcelona Bumps Up Tourist Tax: Travel Just Got Pricier!
  • Tesla Cybertruck Outsells Ford F-150 Lightning in May
  • First-of-its-Kind Suicide Capsule to be Used in Switzerland
  • South Korea’s Loudspeaker Attack Has North Korea on Edge

Must-Reads

  • 1
    Hollywood's Next Big Hits: Top 10 Upcoming Movies You Can't Miss

    ENTERTAINMENT 

  • 2
    Barcelona Bumps Up Tourist Tax: Travel Just Got Pricier!

    LIFESTYLE 

  • 3
    First-of-its-Kind Suicide Capsule to be Used in Switzerland

    DEBATE 

  • 4
    South Korea's Loudspeaker Attack Has North Korea on Edge

    ASIA 

  • 5
    Russia Hints at Nuclear Options in Response to U.S. Missile Plans in Germany

    WORLD 

Popular Now

  • 1
    Young Chinese Pay $1,500 to Play War Games in Russia For Fun – Here’s Why

    DEBATE 

  • 2
    Trump's Win Could Spell Disaster for China's Economy

    DEBATE 

  • 3
    They Started as Brothers and Ended Up Sisters — Here’s How

    LIFESTYLE 

  • 4
    Is This the End of Biden’s Run? Top Democrats and Obama Weigh In

    WORLD 

  • 5
    Dubai Princess Drops Divorce Bomb on Instagram Just Months After Baby's Birth

    LIFESTYLE 

Share it on...