BYD chairman says firm will be world's biggest automaker in 5 years as shares slide

BYD Chairman Wang Chuanfu has issued a bold prediction, asserting the Chinese automotive giant will seize the title of the world's largest automaker within the next five years, despite the company's shares sliding by over a third in the past year. This ambitious forecast, delivered at BYD annual general meeting on June 9, 2026, aims to reassure investors facing intense domestic competition and thinning profit margins. The declaration follows a period of mixed fortunes for BYD, which in 2025 notably surpassed Tesla to become the global leader in pure Battery Electric Vehicle (BEV) sales, yet saw its BEV deliveries dip in Q1 2026, allowing Tesla to reclaim the top spot. BYD recent stock performance reflects a challenging landscape where fierce domestic competition, alongside a 'demand pull-forward' effect from reduced Chinese New Energy Vehicle (NEV) tax incentives in late 2025, has squeezed profitability. To counter these headwinds, BYD is aggressively pivoting towards overseas expansion, targeting over 1.6 million international sales this year and making significant inroads in markets from Europe to South America. The company is also doubling down on technological advancements, with its second-generation Blade Battery identified as a critical growth bottleneck currently being addressed, and substantial investments flowing into advanced Intelligent Driving systems, accumulating 200 million km of data daily. As BYD charts its course for global dominance, it must contend with established behemoths like Toyota Motor, which sold more than double BYD total vehicles in 2025, and navigate escalating trade barriers impacting Chinese EVs in key international markets. Wang's confidence hinges on BYD technology-driven premium strategy and new product launches slated for next year, intended to elevate brand image and per-vehicle profitability. The coming years will reveal whether BYD export-led growth and technological edge can sustain its trajectory against a backdrop of global economic volatility and a rapidly maturing Electric Vehicle market.