BYD Accelerates Global Expansion with Localized Strategy, Targets 800,000 Overseas Sales in 2024

BYD Company Ltd., a global leader in new energy vehicles, is rapidly advancing its international footprint, reporting robust overseas growth and implementing highly localized strategies in key markets as it transitions from product exports to comprehensive ecosystem development.

Strong Overseas Sales Momentum
The company achieved remarkable overseas sales of approximately 47,000 units in the first half of 2024, representing a surge of 132% year-on-year. This strong performance underpins BYD's ambitious target to sell over 800,000 vehicles internationally throughout the year.

Boosting Local Manufacturing Capacity
Critical to this growth is the expansion of BYD's overseas production capabilities. Following the recent commencement of operations at its new factories in Brazil and Thailand, the company's annual overseas production capacity has now reached 300,000 units. This localized manufacturing presence is vital for meeting regional demand efficiently.

Replicable Localization Models
BYD is pioneering distinct, replicable localization models tailored to different markets:

• Thailand: Achieves over 90% local employee workforce.

• Brazil: Focuses on deep collaboration with local supply chain partners.

• Australia: Employs a strategy of rapid channel expansion to increase market reach.
  These models form a blueprint for BYD's sustainable global growth.

July Push: Building Ecosystems
Demonstrating its intensified global focus, BYD initiated a series of significant overseas activities throughout July. Centered on local manufacturing advancement, cutting-edge technology exhibitions, and enhanced sales and service channel development, these moves signal a strategic shift beyond mere vehicle exports towards building integrated local ecosystems.

Laying the Foundation for Annual Target
This multifaceted approach – combining manufacturing scale-up, tailored localization, and ecosystem development – is actively laying the groundwork for BYD to achieve its target of exceeding 800,000 overseas vehicle sales in 2024. The company's transition from product exporter to global ecosystem partner marks a significant evolution in its international strategy.

About BYD
BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Established in 1995, the company now boasts industry-leading expertise in sectors spanning automobiles, rail transit, new energy, and electronics.