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Chinese electric vehicle manufacturer BYD (OTC: BYDDY, OTC: BYDD.F) aims to sell half of its vehicles outside China by 2030, following a surge in overseas sales. The company has significantly increased its global presence, managing to sell 464,266 units overseas in the first half of 2023, which accounted for 22% of its total sales of over 2.1 million vehicles.
To facilitate its growth, BYD established a fleet of seven roll-on, roll-off cargo ships, with the first shipping vessel launched in January 2023. This strategy has helped boost overseas sales revenue to 135 billion yuan (approximately $19 billion), making up 36% of the company’s total revenue of 371 billion yuan (around $52 billion) for the same period.
In competitive markets like Hong Kong and Thailand, BYD emerged as a sales leader, delivering 4,909 units in Hong Kong and 24,072 vehicles in Thailand. These figures highlight BYD’s increasing influence in global markets, supported by a strategic focus on overseas expansion amidst intense domestic competition.
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