New BYD Han model. Image from MIIT
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In the recent shareholder meeting, BYD Chairman Wang Chuanfu indicated that the company would become the largest automaker by volume in 5 years and would exceed 10 million units by the end of the decade. “Five years from now, BYD will be able to achieve true global leadership in terms of scale.”
However, this metric would assume that Toyota sales decline below its current 11.32 million vehicles and BYD would maintain a 16.8% average annual growth rate. He also indicated that L3 and L4 autonomous driving will be implemented ahead of schedule based on their current rate of AI development, although no specific timing was given.
In a separate statement, Executive Vice President Stella Li indicated that BYD currently has twice as much demand as they have production capacity, due to the transition to the new Blade Battery 2.0. She also indicated that she anticipates the Chinese market will soon reach 80% EV penetration, up from 63% in May.
