{"id":3949,"date":"2026-06-09T07:21:49","date_gmt":"2026-06-09T07:21:49","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/electric-vehicle-giant-byd-predicts-80-of-china-car-sales-will-soon-be-electric\/"},"modified":"2026-06-09T07:21:49","modified_gmt":"2026-06-09T07:21:49","slug":"electric-vehicle-giant-byd-predicts-80-of-china-car-sales-will-soon-be-electric","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/electric-vehicle-giant-byd-predicts-80-of-china-car-sales-will-soon-be-electric\/","title":{"rendered":"Electric vehicle giant BYD predicts 80% of China car sales will soon be electric"},"content":{"rendered":"\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108318554\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>08 September 2025, Bavaria, Munich: Stella Li, Vice President of the car manufacturer BYD, speaks during a presentation by the manufacturer BYD at the press day of the International Motor Show IAA (IAA Mobility, International Motor Show) at the company&#8217;s stand in a hall of Messe M\u00fcnchen (Bavaria, Germany) on September 8, 2025.<\/p>\n<p>Picture Alliance | Picture Alliance | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>At a time when electric vehicle sales growth in China has been slowing, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">BYD<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> expects the country&#8217;s EV market to expand \u2014 quite in contrast to smaller rival Nio that recently said the industry&#8217;s &#8220;golden era&#8221; was over.<\/p>\n<p>&#8220;With all the innovation technology introduced to the market, China&#8217;s market very quickly will push to &#8230; close to 80% in EV penetration,&#8221; BYD&#8217;s Executive Vice President Stella Li told CNBC&#8217;s Arjun Kharpal on Monday.<\/p>\n<p>Thanks to state support and a flood of car options, the penetration rate of hybrid and battery-only vehicles has grown rapidly in just a few years, exceeding half of new passenger cars sold in 2024 and a record 62.9% last month, according to the Chinese Passenger Car Association. <\/p>\n<p>The U.S. electric car penetration rate remains at just around 10%, while that figure is roughly 25% globally, the International Energy Agency said last month.<\/p>\n<p>U.S. tariffs of 100% on China-made electric cars have restricted local sales. BYD along with some other firms was put on the Pentagon&#8217;s list of Chinese military-affiliated companies on Monday. The EV maker did not respond to a request for comment.<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108313596\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108313596\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000414348\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>But BYD is optimistic about the domestic market, banking on improved battery technology.<\/p>\n<p>Domestic demand for BYD&#8217;s EVs now stands at around double what the company can currently deliver, Li said, thanks to its fast-charging technology that is reportedly capable of achieving a 70% charge in just five minutes.<\/p>\n<p>Sales of gas-powered cars in China plunged by 39% in May from a year ago, the CPCA said Monday, citing the impact of higher oil prices amid ongoing hostilities in the Middle East.<\/p>\n<p>Looking ahead, Li expects the next phase of competition to likely center on driver-assist features.<\/p>\n<p>BYD on May 28 expanded insurance coverage for &#8220;L2+&#8221; driver-assist users, which Li said could boost customer utilization by 5 percentage points to at least 95%. The company also revealed its own driver-assist chip. <\/p>\n<p>For now, Li said BYD would largely use Nvidia&#8217;s driver-assist chipsets, even as the automaker employs roughly 7,000 engineers for semiconductor development. That&#8217;s just a fraction of the over 869,600 workers the automaker employs, as per its 2025 annual report.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">Read more electric car stories<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Leon Cheng, head of the mobility practice at YCP, an Asia-focused consultancy, pointed out that despite a recovery in May, BYD&#8217;s total sales were essentially flat year over year.<\/p>\n<p>&#8220;The question is not only whether BYD can maintain its leadership in China,&#8221; he said, &#8220;but whether it can defend its position globally as more Chinese EV players compete aggressively in export markets.&#8221;<\/p>\n<p>In May, BYD sold nearly three times more cars in China than the second-largest automaker by new energy vehicle sales, association data showed, arresting an eight-month streak in declining sales.<\/p>\n<p>BYD has struggled to grow locally, turning instead to export markets to buoy sales.<\/p>\n<p>Li said the automaker aims to locally produce 75% of cars sold in Europe. She denied allegations from a New York-based watchdog of labor abuses during BYD&#8217;s Hungary factory construction, adding that the European Commission had yet to investigate the site.<\/p>\n<p>The EU said last month the case fell under the jurisdiction of Hungarian labor authorities.<\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>08 September 2025, Bavaria, Munich: Stella Li, Vice President of the car manufacturer BYD, speaks during a presentation by the manufacturer BYD at the press day of the International Motor Show IAA (IAA Mobility, International Motor Show) at the company&#8217;s stand in a hall of Messe M\u00fcnchen (Bavaria, Germany) on September 8, 2025. Picture Alliance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[2619,446,247,515,1244,1346,309,1653],"class_list":["post-3949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-byd","tag-car","tag-china","tag-electric","tag-giant","tag-predicts","tag-sales","tag-vehicle"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/3949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=3949"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/3949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/3950"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=3949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=3949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=3949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}