Stella Li says BYD can pass Toyota in five years — the 2025 gap was 5.95 million cars
TL;DR
Stella Li says BYD can pass Toyota in five years without the US; its 2025 gap was about 5.95m cars.
BYD executive vice-president Stella Li said the company can overtake Toyota as the world's bestselling automaker within five years without relying on the US market. She told the Financial Times that the forecast assumes organic growth and does not require acquisitions to increase sales. BYD would not rule out buying a European luxury brand if a suitable opportunity emerged, but it currently has no identified target.
BYD sold about 4.55 million vehicles worldwide in 2025, including battery-electric vehicles and plug-in hybrids. Toyota sold about 10.5 million, excluding Daihatsu and Hino. The difference was roughly 5.95 million vehicles. Even if Toyota's volume did not grow, BYD would have to raise annual sales to about 2.3 times its 2025 level.
The planned route avoids high US tariffs and regulatory barriers while concentrating on Europe, Latin America, Southeast Asia, and Australia. BYD said its 2026 guidance was 5 million to 5.5 million global sales, including 1.5 million overseas. Its first-half result was 1,777,321 vehicles, down 16.1% year on year; deliveries in China fell 45.9% to 795,169.
BYD's cumulative new-energy vehicle production has reached 17 million. Its one-millionth vehicle rolled off the line in May 2021, and the total reached 10 million in November 2024. The move from 15 million to 17 million took six months, averaging more than 330,000 additional vehicles a month.
Founder and chairman Wang Chuanfu said in June that BYD aims to pass Toyota by 2030, citing fast-charging technology and overseas expansion. Li's forecast starts with two 2025 figures: 4.55 million for BYD and 10.5 million for Toyota, a gap of 5.95 million vehicles.
via CarNewsChina / Automotive News
BYD sold about 4.55 million vehicles worldwide in 2025, including battery-electric vehicles and plug-in hybrids. Toyota sold about 10.5 million, excluding Daihatsu and Hino. The difference was roughly 5.95 million vehicles. Even if Toyota's volume did not grow, BYD would have to raise annual sales to about 2.3 times its 2025 level.
The planned route avoids high US tariffs and regulatory barriers while concentrating on Europe, Latin America, Southeast Asia, and Australia. BYD said its 2026 guidance was 5 million to 5.5 million global sales, including 1.5 million overseas. Its first-half result was 1,777,321 vehicles, down 16.1% year on year; deliveries in China fell 45.9% to 795,169.
BYD's cumulative new-energy vehicle production has reached 17 million. Its one-millionth vehicle rolled off the line in May 2021, and the total reached 10 million in November 2024. The move from 15 million to 17 million took six months, averaging more than 330,000 additional vehicles a month.
Founder and chairman Wang Chuanfu said in June that BYD aims to pass Toyota by 2030, citing fast-charging technology and overseas expansion. Li's forecast starts with two 2025 figures: 4.55 million for BYD and 10.5 million for Toyota, a gap of 5.95 million vehicles.
via CarNewsChina / Automotive News
