BYD Wants To Overtake Toyota, And It Says It Doesn't Need America To Do It

BYD wants to be the largest car manufacturer in the world within five years.

It claims that it doesn't need the U.S. market to do this, relying on organic growth in other international markets.

BYD sold 4.5 million cars worldwide last year.

It's no secret that BYD has been gunning for world domination. China's biggest EV company has brought its electric and plug-in hybrid models to markets all over the world lately, and sales have taken off outside of China. It’s rocketed to fifth place in the hierarchy of best-selling car brands in the world, beating Ford for the first time last year. According to BYD founder Wang Chuanfu, the automaker wants to be number one in the next five years.

This is a lofty goal. BYD sold 4.5 million vehicles worldwide last year, which is respectable, but is also less than half of the 10.5 million vehicles that Toyota, the global leader, shipped globally. And yet, BYD's executives claim they can take the top spot. Moreover, BYD Executive Vice President Stella Li told the Financial Times this week that BYD doesn't need the U.S. to achieve this goal either.