October 16, BYD officially became the 2026 APEC conference official partner, with multiple high-end models from its Denza, Yangwang, Fang Cheng Bao, and Dynasty and Ocean series becoming official designated vehicles. Headquarters in Shenzhen Pingshan, conference held in Shenzhen, "local enterprises serving local grand events" seems natural. But understanding this merely as "home court convenience" will miss the real signal.

APEC Partner is "Chosen", not "Arranged"

APEC official partner is not an identity you can buy with money. Multiple models from Denza, Yangwang, and Fang Cheng Bao collectively passed the audit to become designated vehicles, meaning the products underwent strict inspection regarding quality, safety, comfort, and service support tailored for international conference scenarios.

A more notable structural change is: In the first half of 2026, combined sales of Denza, Fang Cheng Bao, and Yangwang increased by 61% year-on-year, rising to 12.8% of total passenger car sales, with Fang Cheng Bao's average transaction price exceeding 220,000 yuan. BYD brought not just a "cost-effective model", but a complete high-end product line with an average price above 200,000 yuan. From "Being Seen" to "Being Chosen", what separates them is the actual realization of product capability, not geographical distance.

BYD's Overseas Reputation: Switched from "Cheap" to "Mainstream Option"

What best explains the situation is not brand research, but the sales ranking.

February 2026, Chinese electric vehicles topped the local retail sales ranking for the first time in Brazil, BYD's pure electric vehicle market share reached 78%, far surpassing Japanese, Korean, and European and American brands.

In Singapore, BYD's new car sales exceeded Toyota for the first time in 2025, rising to first place.

In the South Korean imported passenger car market, BYD ranked fourth in only one and a half years, surpassing Lexus.

In September 2025, UK single-month sales were 11,271 units, with a year-on-year growth rate of 880%, entering the top ten monthly rankings for the first time.

These markets were previously Toyota and European brands' home court. BYD's entry method was not low-price dumping, but forcing its way in on the pure electric track using product rhythm and localized channels.

The Real Focus of BYD's Export Review: Structure, not Total Volume

2021 exports 15,000 units, 2022 about 50,000, 2023 broke 200,000, 2024 exceeded 500,000, 2025 broke 1 million for the first time reaching 1.046 million — nearly 70-fold growth in five years.

But more critical than total volume is the structural jump in 2026: Overseas sales for the first three quarters were 1.3378 million units, rising from 21% of the same period last year to 43%. Nearly half the cars were sold overseas, the average overseas price per vehicle was about 190,000 yuan, nearly 50% higher than domestic, and overseas revenue share exceeded 50% for the first time.

Even among APEC member economies, Mexico ranked first in exports with 130,500 units in 2025, Brazil followed with 119,900 units, Indonesia 81,000 units, and Thailand has built a factory and entered the top 5 new energy brands.

APEC's 21 economies cover the most important automotive markets in Asia-Pacific. BYD is not "here to exhibit" in these markets, but already selling cars. The remaining cake is not about increasing coverage in a few more countries, but about turning markets already entered from "having sales" to "having share" — Europe's pure electric penetration rate is still only around 20%, most ASEAN and Latin American markets are in the early stage of pure electric introduction, and the window for plug-in hybrid products has just opened.

BYD's Overseas Factory Construction: Eight Countries Eight Factories are a Must-Under-Tariff-Pressure Choice

Whole vehicle exports are hitting a tariff wall: The EU imposes up to 35.3% anti-subsidy tariffs on Chinese EVs, Mexico 50%, Vietnam 35%. Localized manufacturing is not "icing on the cake", it is the ticket to enter mainstream markets.

Overseas passenger car factories already in production include Thailand (production started July 2024), Brazil (production started July 2025), Uzbekistan (CKD started June 2024), Hungary Szeged factory planned for Q4 2026 production, Indonesia Subang factory production started H1 2026, Turkey Manisa factory production end of 2026, Cambodia and Malaysia factories also landing in 2026.

The first phase of eight countries eight factories has a combined capacity exceeding 1 million units, with a planned upper limit exceeding 2 million units. The direction for incremental growth in the next five years is very clear: If overseas reaches 4-5 million units, "relying solely on exports is not enough, it must be achieved through local factory construction". This means after Southeast Asia, Latin America, Central and Eastern Europe, more production nodes will continue to expand according to market demand, but the pace depends on tariff policies and local supply chain maturity, not necessarily faster is better.

Can BYD Surpass Toyota? The five-year slogan is grand, but the gap needs to be acknowledged

Toyota's global sales in 2025 were about 11.32 million units, BYD about 4.6 million units, a gap of 6.72 million units; In the first half of 2026, Toyota 5.39 million units, BYD 1.81 million units, the gap is still close to 3 times.

Li Ke reiterated "Surpass Toyota and Volkswagen within five years" in Singapore in October, Wang Chuanfu has also anchored this goal multiple times since June, emphasizing "not relying on the US market". The direction is no problem — overseas growth rate is far higher than Toyota, and the product iteration pace on the new energy track is also superior.

But erasing nearly three times the volume difference in five years means BYD needs to sell an additional volume of over 1 million units overseas annually, while Toyota will not stay in place. A more realistic path is not "sudden turnaround in a certain year", but first establishing overwhelming advantage on the new energy single track, then gradually approaching the total sales metric.

APEC partner status will not directly shorten this distance, but it did something more fundamental: letting the most purchasing power business people and policymakers in the Asia-Pacific region, when sitting in the rear of a Denza or Yangwang, no longer treat "Chinese cars" as an option that needs to be convinced, but as a default reference system. Switching brand cognition often comes earlier and deeper than chasing sales numbers.

16 Oktober, BYD secara rasmi menjadi rakan kongsi rasmi mesyuarat APEC 2026, pelbagai model premium di bawah syarikat Denza, YangWang, Fang Cheng Bao dan siri Wangchao Ocean menjadi kenderaan rasmi yang ditetapkan. Ibu pejabat di Ping Shan, Shenzhen, mesyuarat diadakan di Shenzhen, “Perkhidmatan tempatan untuk acara tempatan” kelihatan munasabah. Tetapi jika perkara ini difahami semata-mata sebagai “kelebihan tuan rumah”, mesej sebenar akan terlepas pandang.

Rakan Kongsi APEC adalah “dipilih”, bukan “ditarimkan”

Rakan kongsi rasmi APEC bukan status yang boleh dibeli dengan wang. Pelbagai model Denza, YangWang dan Fang Cheng Bao berjaya melalui semakan dan menjadi kenderaan ditetapkan, bermaksud produk telah menerima ujian ketat dari segi kualiti, keselamatan, keselesaan dan perlindungan perkhidmatan untuk skenario mesyuarat antarabangsa.

Perubahan struktur yang lebih menarik perhatian adalah: separuh tahun pertama 2026, jualan gabungan Denza, Fang Cheng Bao dan YangWang meningkat 61% dari tahun sebelumnya, bagian daripada jumlah jualan kenderaan penumpang meningkat kepada 12.8%, harga purata jualan Fang Cheng Bao melebihi 220,000 yuan. BYD tidak hanya membawa satu model “nilai tinggi”, tetapi satu rangkaian produk premium lengkap dengan harga purata melebihi 200,000 yuan. Dari “dilihat” ke “dipilih”, perbezaannya adalah pelaksanaan sebenar daya produk, bukan jarak geografik.

Keenakan Antarabangsa BYD: Telah beralih daripada “murah” ke “pilihan utama”

Bukan kajian jenama yang paling menjelaskan masalah, tetapi carta jualan.

Februari 2026, kenderaan elektrik China di Brazil mencapai puncak carta jualan runcit tempatan buat pertama kali, pangsa pasaran model BYD sepenuhnya elektrik mencecah 78%, jauh melebihi jenama Jepun, Korea, dan Eropah serta Amerika.

Di Singapura, jualan kenderaan baharu 2025, BYD kali pertama melebihi Toyota, mencapai kedudukan pertama.

Pasaran kenderaan penumpang impor Korea, BYD hanya mengambil masa satu setengah tahun untuk menduduki tempat keempat, mengatasi Lexus.

United Kingdom, jualan tunggal September 2025 sebanyak 11,271 kenderaan, pertumbuhan tahun ke tahun 880%, kali pertama masuk dalam 10 besar bulanan.

Pasar ini pada masa lalu merupakan arena utama Toyota dan jenama Eropah, cara BYD masuk bukan melalui penjualan murah, tetapi mendesak masuk melalui irama produk dan saluran tempatan di laluan elektrik sepenuhnya.

Titik Utama Pengiraan Eksport BYD: Struktur, Bukan Jumlah Keseluruhan

Eksport 2021 sebanyak 15,000 kenderaan, 2022 kira-kira 50,000, 2023 pecah 200,000, 2024 melebihi 500,000, 2025 pecah 1 juta buat pertama kali mencapai 1,046,000 — pertumbuhan hampir 70 kali ganda dalam lima tahun.

Tetapi lebih penting daripada jumlah keseluruhan adalah lonjakan struktur pada 2026: jualan luar negara 3 kuartal pertama 1,337,800 kenderaan, peratusan meningkat dari 21% pada tahun lepas kepada 43%. Hampir separuh kenderaan dijual ke luar negara, harga purata kenderaan luar negara kira-kira 190,000 yuan, 50% lebih tinggi daripada domestik, peratusan pendapatan luar negara pertama kali melebihi separuh.

Bahkan dalam ekonomi ahli APEC, Mexico 2025 menduduki tempat pertama eksport dengan 130,500 kenderaan, Brazil 119,900 kenderaan mengikuti, Indonesia 81,000 kenderaan, Thailand telah membina kilang dan memasuki TOP 5 jenama tenaga baharu.

21 ekonomi APEC merangkumi pasaran automobil paling penting di Asia Pasifik, BYD di pasar ini bukan “hanya pameran”, sudah menjual kenderaan. Kek yang tinggal bukan tentang menambah liputan negara, tetapi mengubah pasar yang sudah masuk daripada “ada jualan” kepada “ada bahagian pasaran” — penetrasi elektrik sepenuhnya Eropah masih sekitar 20%, kebanyakan pasar ASEAN dan Amerika Latin berada di awal pengenalan elektrik sepenuhnya, jendela produk hibrid sambung-plug (PHEV) baru sahaja terbuka.

Kilang Luar Negara BYD: 8 Negara 8 Kilang adalah Pilihan Wajib di Bawah Paksaan Tarif

Eksport kenderaan lengkap sedang bertembung dengan tembok tarif: Kesatuan Eropah mengenakan cukai anti-subsidi tertinggi 35.3% untuk kenderaan elektrik China, Mexico 50%, Vietnam 35%. Pengilangan tempatan bukan “hiasan”, tetapi tiket masuk ke pasar utama.

Kilang kenderaan penumpang luar negara yang telah beroperasi termasuk Thailand (beroperasi Julai 2024), Brazil (beroperasi Julai 2025), Uzbekistan (memulai CKD Jun 2024), kilang Szeged Hungary dirancang beroperasi Q4 2026, kilang Subang Indonesia beroperasi separa tahun pertama 2026, kilang Manisa Turki beroperasi akhir 2026, kilang Kemboja dan Malaysia juga akan tiba pada tahun 2026.

8 Negara 8 Kilang Fasa 1 jumlah keupayaan melebihi 1 juta kenderaan, had perancangan melebihi 2 juta kenderaan. Arahan penambahan masa lima tahun hadapan jelas: Jika luar negara mencapai 4 - 5 juta kenderaan, “hanya ekspor tidak mencukupi, mesti dicapai melalui pembinaan kilang tempatan”. Ini bererti selepas Asia Tenggara, Amerika Latin, Eropah Tengah dan Timur, lebih banyak nod keupayaan akan dikembangkan mengikut permintaan pasaran, tetapi kelajuan bergantung pada dasar tarif dan kematangan rantaian bekalan tempatan, bukan semakin laju semakin baik.

Bolehkah BYD Melampaui Toyota? Seruan Lima Tahun Berjiwa, Tetapi Jurang Perlu Dilihat Dengan Jelas

Jualan global Toyota 2025 kira-kira 11.32 juta kenderaan, BYD kira-kira 4.6 juta kenderaan, jurang 6.72 juta kenderaan; Pertama 2026 Toyota 5.39 juta kenderaan, BYD 1.81 juta kenderaan, jurang masih hampir 3 kali ganda.

Li Ke mengulangi semula di Singapura bulan Oktober “Melepasi Toyota dan Volkswagen dalam 5 tahun”, Wang Chuanfu sejak Jun juga kali ini mengikat sasaran ini, dan menekankan “tidak bergantung pada pasar Amerika”. Arah tidak bermasalah — pertumbuhan luar negara jauh lebih tinggi daripada Toyota, irama pengulangan produk pada laluan tenaga baharu juga mengungguli.

Tetapi menghapuskan jurang saiz hampir 3 kali ganda dalam 5 tahun, bermaksud BYD perlu menjual lebih banyak satu juta kenderaan di luar negara setiap tahun, sementara Toyota tidak akan berhenti. Laluan lebih realistik bukan “membaling semula secara tiba-tiba dalam satu tahun tertentu”, tetapi terlebih dahulu mengukuhkan kelebihan mendominasi pada laluan tenaga baharu tunggal, baru secara berperingkat mendekati statistik jumlah jualan.

Status rakan kongsi APEC tidak akan secara langsung mempersingkatkan jarak ini, tetapi ia melakukan sesuatu yang lebih asas: membolehkan golongan bisnes dan pembuat dasar yang mempunyai kuasa membeli paling tinggi di kawasan Asia Pasifik, apabila duduk di kerusi belakang Denza atau YangWang, tidak lagi menganggap “kereta China” sebagai pilihan yang perlu disahkan, tetapi sebagai sistem rujukan default. Perpindahan pengiktirafan jenama, selalunya datang lebih awal dan lebih dalam daripada mengejar angka jualan.