BYD chairman Wang Chuanfu told shareholders the Chinese EV giant expects to become the world's largest automaker by 2031, building on 4.3 million vehicles

BYD expects China's competitive electric vehicle market to continue growing, even as manufacturers and analysts anticipate domestic demand to taper further.

BYD's Stella Li says China will push to 80% EV penetration, as gas car sales plunge 39% and the Pentagon adds the automaker to its 1260H military list.