BYD Set to Outsell Ford and Honda in 2024, Eyes Europe with Hybrid Vehicles

Dec 9, 2024, 01:40 AM

Chinese electric vehicle (EV) manufacturer BYD Co. Ltd. is on track to surpass its 2024 sales goal of 4 million vehicles, with projections indicating it will outsell both Ford Motor Co. and Honda Motor Co. Ltd. this year. BYD has already sold 3.76 million EVs, nearly exceeding its annual target. The company's rapid growth is part of a broader trend where Chinese EV makers are expanding their presence in Europe, aiming to circumvent potential tariffs on electric vehicles by focusing on hybrid vehicles. This strategy comes as Beijing has advised Chinese manufacturers against seeking individual tariff deals with Europe, highlighting the urgency for these companies to establish a foothold in the market. Additionally, BYD has achieved a significant milestone by selling 1 million plugin vehicles in just two months.