BYD founder targets world domination by 2030

Expanding the battle that already exists in Australia, BYD founder and chairman Wang Chuanfu has declared the Chinese automotive giant can overtake Toyota and become the world’s largest carmaker by 2030.

According to Automotive News, Wang said the company was targeting the global number-one position within five years at the brand’s annual shareholder meeting in Shenzhen.

The ambitious target highlights the extraordinary rise of BYD from a battery manufacturer to an automotive powerhouse.

It sold approximately 4.6 million vehicles globally in 2025, making it one of the world’s largest vehicle manufacturers and China’s biggest carmaker by volume.

However, it remains well behind Toyota, which continues to lead global sales.

According to Automotive News, Wang told investors the company would become the world’s number one automaker “in terms of scale” within five years, driven by growth in both China and export markets.

The comments come as BYD accelerates an international expansion program that has seen it rapidly increase its presence across Europe, South America, Southeast Asia and Australia.

Exports have become increasingly important to the company’s growth strategy, with BYD’s overseas shipments rising strongly during the opening months of 2026, and Australia ranks among its largest export destinations.

The Chinese manufacturer has invested heavily in new technologies, including ultra-fast charging systems, battery development and advanced driver-assistance systems, while also expanding its global production and logistics footprint.

The aggressive growth target arrives amid increasing competition within China, where a prolonged price war has squeezed margins across the industry and encouraged manufacturers to pursue international growth opportunities.

For Australia, the comments underline the importance of the local market to BYD’s global plans, as it leads a Chinese emergence here.

The brand has rapidly expanded from a single model in 2022 to a broad lineup that now includes passenger cars, SUVs and the Shark 6 plug-in hybrid ute, with further growth expected as BYD continues its push towards becoming a mainstream automotive brand.

Its sales have grown 120.1 per cent in Australia so far this year and it finished second only behind Toyota in monthly sales in both April and May.

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