BYD chairman Wang Chuanfu told shareholders on June 9 or 10, 2026, that the company expects to become the world's largest automaker by scale within five years. "BYD will truly become the No 1 automaker globally in terms of scale in five years," he said at the annual shareholder meeting [1, 2].
Currently, BYD ranks sixth worldwide, having sold 4.6 million vehicles in 2025 [1, 2]. To achieve the top spot, the company would need to surpass Toyota, which sold more than twice as many vehicles that year [1, 2]. Wang highlighted that ramping up production of BYD's second-generation Blade Battery represents the main bottleneck to growth in 2026 [1, 2].
BYD's export business has grown strongly in early 2026, with shipments from January to May rising 65% year-on-year. Brazil, Britain, and Australia are its largest export markets [1, 2]. Despite export gains, overall vehicle deliveries in China fell more than 20% during the same period, hurt by intensified competition from domestic rivals [1, 2].
The company's share price has been under pressure over the past year. Shares listed in Hong Kong have fallen more than 45% from their peak, while Shenzhen-listed stock dropped 33% during that period [1, 2]. On the day following the shareholder meeting, BYD shares fell 4.3% in Hong Kong and 1.6% in Shenzhen [1, 2].
Toyota’s overseas market share has weakened in regions such as Southeast Asia and the Middle East, where Chinese automakers like BYD have expanded significantly in 2026 [1, 2]. Wang’s confidence in BYD’s growth outlook faces challenges amid current market pressures.
The company will seek to overcome production bottlenecks in battery output to regain momentum and compete with global leaders. The next test will come as BYD reports second-quarter results later this year.
