BYD, the leading electric vehicle manufacturer from China, is making significant strides in the global automotive market. In September, 2.8 million cars were sold in China, with 46% being electric vehicles, a slight increase from the previous month.
BYD has emerged as the top-selling brand, bolstered by a 3.8% rise in its stock on the Shanghai exchange. Despite a robust domestic market, BYD faces challenges in exporting electric vehicles, with only 111,000 units shipped abroad.
To counter EU import tariffs, BYD is investing in electric vehicle production in Europe, establishing local factories. At the recent Paris Motor Show, the company unveiled its latest electric SUV, the Sealion 7, aimed at European customers, with a launch expected in the first quarter of 2025.
Having surpassed the million mark in vehicle sales this year, BYD is now the world's seventh-largest automaker.