BYD Overseas Passenger EV Sales
Source Research:
Chinese Electric Vehicle OEMs
BYD recently began making major efforts to expand its business internationally. The company first began reporting its overseas sales figures in 3Q 2022. Since then, its quarterly exports have increased significantly from 16,854 to 38,723 in 1Q 2023, due primarily to launches in new markets.
In 1Q 2023, the leading markets for overseas BYD sales were Israel and Thailand by some distance. In Israel, the OEM had a 42% share of the BEV market through the Atto 3 alone, which was first delivered in the country in October 2022. In Thailand, BYD had a 38% BEV market share, with almost all of its sales also from the Atto 3. Australia is another key overseas market; BYD aims to achieve annual sales of 50,000 vehicles in Australia in the coming years, which would give it a market share of around 5% for all passenger cars.
BYD has not yet achieved great sales success in Europe; its first car available in Europe was the BYD Tang, which entered Norway as a trial market in August 2021. It has since begun taking orders in 14 European countries, with more to follow in 2023. BYD is relying on the Atto 3, marketed as the Yuan Plus in China, as it enters new markets overseas. The compact crossover SUV is available in Europe with a 60.5-kWh LFP battery, using BYD’s proprietary “Blade” technology, with 420 km of range. The Atto 3 is generally cheaper than its competitors, but does not have the same massive cost advantage that SAIC’s MG ZS EV enjoys
