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Investing.com -- Chinese automaker BYD (SZ:002594) is planning to double its international sales to over 800,000 vehicles by 2025. The company’s chairman announced this ambitious target during an earnings call on Tuesday.
In 2024, BYD sold 417,204 units outside China. The company is now expecting a significant increase in its market share in the United Kingdom (TADAWUL:4280), as the market is receptive to competitive Chinese products, according to a transcript of the call by Chairman Wang Chuanfu.
Wang also noted that there are major opportunities for BYD to expand swiftly in Latin American and Southeast Asian countries. He pointed out that these regions are welcoming of Chinese brands, both at the government and consumer levels.
BYD is spearheading an international expansion effort among Chinese automakers. It is opening showrooms in various markets, ranging from Australia to Germany, in an attempt to find relief from the intense price competition in its domestic market.
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