Wang Chuanfu Makes Bold Claim: Scale to Reach No. 1 Globally in Five Years, Production and Sales Exceed 10 Million Units

" Five years from now, BYD will be able to achieve true global No. 1 in scale. By 2030, we will achieve greater growth. " June 9, BYD Chairman and President Wang Chuanfu stated at the BYD 2025 Annual Shareholder Meeting.

It is reported that this was the largest shareholder meeting in BYD's history, with nearly 1,000 attendees, half of whom are also BYD car owners. Wang Chuanfu, accompanied by the senior management team, engaged in in-depth exchanges with shareholders, directly addressing core issues such as industry competition, sales bottlenecks, overseas expansion, and technical roadmaps.

Regarding the sales issue of widespread concern among investors, Wang Chuanfu stated, This year's sales depend on battery production, as the new generation of Blade Batteries are currently in the production ramp-up phase, as battery production increases, subsequent sales will gradually rise. Next year, battery production is expected to increase significantly, driving the company's sales to a new level.

In March of this year, BYD officially released the second-generation Blade Battery and Flash Charge technology, effectively solving the core pain point of slow charging in the new energy vehicle industry. After the technology was launched, it received high recognition from domestic and foreign markets, and market order volume increased significantly.

Currently, second-generation Blade Battery capacity has a gap and is in a month-by-month ramp-up phase, Monthly capacity increase can reach 20,000 to 30,000 units. Due to the significant increase in power supply of the new generation of Blade Batteries, production line settings and battery internal structures require modification and upgrades, so capacity ramp-up takes some time. BYD is concentrating its efforts to tackle these challenges, fully exploring the production potential of the second-generation Blade Battery.

Wang Chuanfu revealed that battery production is expected to increase significantly in 2027, at which time the company will simultaneously focus on domestic and foreign markets, layout charging networks globally, drive the company's new energy vehicle sales to a new level, and also assist in the coordinated development of technology and the industrial chain.

According to the sales report on June 1, BYD's cumulative sales for the first 5 months of this year were 1.405 million vehicles, a year-on-year decrease of 20.3%. Wang Chuanfu pointed out that the purchase tax for new energy vehicles was halved this year, leading many consumers to advance their consumption last year. Therefore, new energy vehicle consumption in January and February dropped sharply, and since BYD only makes new energy vehicles, the impact was huge. However, after efforts in March and April, and coinciding with rising oil prices, sales recovered.

As Wang Chuanfu said, The worst moment has passed. From the sales in May this year, BYD has already ushered in an upward momentum. In May, BYD sold 383,500 vehicles, a slight increase of 0.26% year-on-year, turning positive after 10 months, with a nearly 20% surge month-on-month.

Wang Chuanfu stated at the meeting, currently BYD has deep technical reserves and a clear strategic path, including the second-generation Blade Battery, Flash Charge technology, and more disruptive technologies to be launched next year and the year after, the company will maintain continuous growth in the next three to five years.

Regarding the choice of technology path, Wang Chuanfu stated, BYD will not claim Flash Charge technology as its own exclusive property, the Charging Station will not display BYD's Logo, and the Flash Charge ecosystem will serve all automotive brands and consumers. "A good technology, besides serving BYD, must serve the entire industry more. To win the market and everyone's reputation, one must have this perspective."

He particularly emphasized, with the formation of the "dual-wheel drive" pattern of domestic and overseas markets, Chinese new energy vehicle technology will use this opportunity to truly move to the center stage of the global arena.

Since the beginning of this year, BYD's overseas market development has been strong. Wang Chuanfu revealed, along with the improvement of the company's technology and product power, and the continued release of production at overseas bases, BYD's overseas sales in 2026 are expected to surpass the original 1.5 million unit target.

In May, BYD's overseas sales reached 89,000 units, a year-on-year increase of 133.6%, creating a historical high. Overseas bases in Brazil, Hungary, Thailand, etc., are continuously releasing production, BYD's globalization layout has entered the harvest period.

"Chinese new energy vehicles have comprehensively surpassed local peers in terms of price, technology, product experience, etc." Wang Chuanfu said, but he emphasized at the same time, going overseas cannot be rushed, competitors cannot be made too tense. "We must adhere to long-termism, do a good job in local production and service, and achieve win-win development with locals." This is BYD's globalization philosophy — not to conquer the market, but to integrate into the market, becoming a local corporate citizen.

Wang Chuanfu provided a clear long-term goal: Five years from now, BYD will be able to achieve true global No. 1 in scale. By 2030, we will achieve greater growth.

In the past two years, BYD ranked 5th in the global car sales leaderboard with sales of 4.27 million and 4.6 million vehicles, while Toyota Motor has exceeded 10 million vehicles in sales for 5 consecutive years, retaining the No. 1 spot on the global sales leaderboard. This means BYD's annual sales within 5 years must also break the 10 million mark.

In past years, BYD successively announced factory construction plans in countries such as Hungary, Turkey, Uzbekistan, Brazil, Thailand, Cambodia, Malaysia, etc. As of now, BYD's complete vehicle factories located in Thailand, Uzbekistan, and Brazil have been completed and put into production. BYD Executive Vice President Li Ke stated in an interview with Bloomberg recently, BYD is in touch with European automakers such as Stellantis, seeking to take over underutilized factories locally to utilize idle capacity.

Intelligence is another important growth pole for BYD. At the shareholder meeting, multiple shareholders asked about the outlook for BYD's intelligent driving layout, Wang Chuanfu again reiterated the concept of "Vehicle Intelligence is Embodied Intelligence", the current development speed of AI technology exceeds industry expectations, BYD will actively promote the implementation and application of AI technology in the automotive field.

On the evening of May 28, BYD released its self-developed 4nm process intelligent driving chip Xuanji A3. It is introduced that the chip has started mass production, supporting L3 and L4 autonomous driving.

Wang Chuanfu introduced, currently, BYD's intelligent driving R&D engineer scale exceeds 5,000 people, 3.15 million BYD vehicles equipped with intelligent driving have been put into use globally, generating 200 million kilometers of driving data daily, massive data accumulation lays a solid foundation for BYD's advanced intelligent driving iteration and upgrade.

Based on this massive data foundation, Wang Chuanfu judges that the arrival of L3 and L4 level advanced autonomous driving will be earlier than expected. He stated, BYD has made full preparations in the layout of chips, algorithms, data and other full-chain ecosystems, Intelligent driving training centers in Europe, South America, Southeast Asia, Middle East, etc., are also ready. Once L3 and L4 level intelligent driving related regulations land, BYD will quickly launch compatible products, and gradually push from the Chinese market to the global market.

Wang Chuanfu also discussed, Premiumization has always been the goal pursued by BYD. He said: "The automotive industry used to be flooded with all kinds of flashy traffic, but in fact cars are traffic tools involving safety, they are products. Fewer gimmicks, less flashy, return to the source, do a good job with technology and products, to gain the recognition of mid-to-high-end consumers. After the volume of premium models increases, company gross margin issues and single vehicle profit issues will also be solved easily. Currently, BYD has already established a high-end brand image overseas."

Some investors stated that BYD's current stock price is undervalued, and asked about the company's market value management measures, Wang Chuanfu stated regarding this: "We all recognize our potential, but now our stock price has not reflected it yet. On behalf of the management, I understand and thank everyone for their support." "Many shareholders have put forward very good suggestions for the company's market value management, hoping through our follow-up management, let the company's stock price, products, and performance be able to better return shareholders."

Wang Chuanfu said, believe that performance will get better and better, hoping shareholders keep patience. The company will continue to use technological innovation to drive further future growth, grasp every node, scientific forward-looking layout, to achieve better and faster development for the company, "will definitely achieve better returns for shareholders".