China’s BYD is set to surpass its 2024 sales target of 4 million vehicles, overtaking Honda and Ford globally. Driven by strong domestic demand, BYD’s market share and production capacity continue to soar, solidifying its position as an EV leader.
China’s leading electric vehicle manufacturer, BYD, is poised to demonstrate further market share growth when November sales data is released. The company is on track to exceed its annual target of 4 million vehicles, surpassing Honda and Ford in global sales for 2024. BYD delivered 3.76 million vehicles in the first 11 months of the year, including 506,804 units in November.
Strong domestic sales, supported by its advanced plug-in hybrid models, have driven the firm's expansion, with its share of the Chinese auto market rising to 16.2% as of October, up from 12.5% in 2023. This places BYD ahead of Volkswagen’s joint ventures in China, which combined for a 12.5% share during the same period. Analysts predict BYD could achieve annual sales exceeding 6 million vehicles by 2025, rivaling global leaders such as General Motors and Stellantis.
To meet demand, BYD expanded production capacity by 200,000 units between August and October and hired 200,000 additional workers, bringing its total workforce to nearly one million by September. This scaling effort has enabled BYD to outpace competitors, control costs, and withstand a challenging price war in the Chinese market, which has significantly impacted foreign automakers.
General Motors recently announced over $5 billion in charges tied to its struggling China operations, highlighting the challenges faced by foreign firms in the region. BYD has maintained its competitive edge, leveraging cost efficiencies and supplier negotiations to sustain its growth trajectory.
Chinese EV maker BYD has unveiled its budget-friendly Dolphin Surf in Berlin, intensifying competition in Europe's electric car market with prices starting at just €19,990.
Chinese automakers like BYD are launching fast‑charging EV systems to address one of the biggest hurdles to wider electric vehicle adoption: long charging times. Many drivers worry that their EV batteries could run out during long trips, so rapid recharging is seen as a critical selling point.
Electric vehicle manufacturer BYD is under investigation in Brazil after hundreds of Chinese workers were brought into the country on irregular visas to work on a factory construction in Bahia, with many found in "slavery-like conditions," according to labor authorities, Reuters reports.
BYD surpassed Tesla in fourth-quarter EV deliveries, with a 13.1% sales increase, while Tesla saw a 5% rise.
Toyota’s global production declined for the 10th consecutive month in November, down 6.2% year-on-year. However, the automaker saw a 1.7% increase in worldwide sales, marking the second consecutive month of growth.
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Russia laid out strict demands for ending the war during peace talks in Istanbul, calling on Ukraine to cede territory and limit its military.
UK Trade Minister Jonathan Reynolds is set to meet U.S. Trade Representative to discuss the next steps in a complicated tariff deal, amid steel tariffs that could impact British industry.
Russian shelling killed at least five people on Monday in different frontline areas of eastern Ukraine, officials said.
The U.S. Senate may soon take a significant step against Russia, as lawmakers consider a bipartisan sanctions bill aimed at increasing pressure over the war in Ukraine. The legislation could also target countries like China and India that continue trading with Moscow.
On May 28, the inauguration ceremony of Lachin International Airport was held.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
A 5.8-magnitude earthquake struck off the coast of Türkiye near Mugla’s Marmaris district, causing panic and minor injuries. Officials report building cracks and dozens injured after jumping in fear.
Russia laid out strict demands for ending the war during peace talks in Istanbul, calling on Ukraine to cede territory and limit its military.
UK Trade Minister Jonathan Reynolds is set to meet U.S. Trade Representative to discuss the next steps in a complicated tariff deal, amid steel tariffs that could impact British industry.
Russian shelling killed at least five people on Monday in different frontline areas of eastern Ukraine, officials said.
The U.S. Senate may soon take a significant step against Russia, as lawmakers consider a bipartisan sanctions bill aimed at increasing pressure over the war in Ukraine. The legislation could also target countries like China and India that continue trading with Moscow.
A 5.8-magnitude earthquake struck off the coast of Türkiye near Mugla’s Marmaris district, causing panic and minor injuries. Officials report building cracks and dozens injured after jumping in fear.
Russia laid out strict demands for ending the war during peace talks in Istanbul, calling on Ukraine to cede territory and limit its military.
UK Trade Minister Jonathan Reynolds is set to meet U.S. Trade Representative to discuss the next steps in a complicated tariff deal, amid steel tariffs that could impact British industry.
Russian shelling killed at least five people on Monday in different frontline areas of eastern Ukraine, officials said.
The U.S. Senate may soon take a significant step against Russia, as lawmakers consider a bipartisan sanctions bill aimed at increasing pressure over the war in Ukraine. The legislation could also target countries like China and India that continue trading with Moscow.
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