BYD's global ambitions hit trade barriers

BYD dominates the global EV market

Last year, Chinese manufacturer BYD became the world's top EV seller, moving 4.6 million vehicles across 120 countries and regions with revenue of 111 billion dollars.

BYD's next target: overtake Toyota

BYD aims to become the world's number one automaker by 2030, a goal requiring more than double its current output as China's auto market cools.

Foreign markets now drive growth

As China's domestic market slows, BYD's foreign business has already surpassed its domestic revenue, making overseas expansion critical to reaching its 2030 target.

Trade barriers multiply worldwide

BYD's success has triggered tariffs of 27 percent in the EU, 35 percent in Brazil, 40 percent in Turkey, and 100 percent in the US.

EU imposes hybrid EV quota

On October 12, the EU announced a 350,000-a-year quota on hybrid EV imports from China, expected to halve their market share in the region.

Pentagon labels BYD military company

In June, the US Pentagon designated BYD as a Chinese military company, a move the firm disputes as inaccurate and is working to overturn.

Stella Li responds to military label

BYD vice-president Stella Li says the designation is unfounded because BYD is privately owned and publicly traded, and all car companies must work with Chinese regulators.

“We are a privately owned, publicly traded company.”

Geopolitics is the main obstacle

Li identifies geopolitical headwinds as BYD's biggest challenge to reaching its 2030 goal, citing daily headlines about new tariffs and trade restrictions.

“Every day, you wake up with headlines saying, 'the U.K. is going to put a 45% tariff,' and 'the European Union is going to put another tariff.'”

Li: restrictions driven by politics

Li argues European trade barriers are motivated by political concerns rather than merit, noting BYD would hire local workers and strengthen regional economies.

Joint ventures no longer make sense

Li rejects calls for joint ventures with foreign firms, arguing that when foreign companies entered China decades ago, the market was weak and they profited heavily.

“China did open up for all the foreign brands to make tons of money over the past 20 years. They banked the profit from China.”

BYD leads in battery technology

BYD is developing solid-state batteries and pioneering flash charging technology, positioning itself as the industry leader in next-generation battery innovation.

Expanding beyond cars

BYD operates across multiple industries including electric buses, battery storage, semiconductors, humanoid robots and data centers, creating an ecosystem competitors cannot match.