At the Shenzhen Stock Exchange 2026 Global Investors Conference, Li Qian, Board Secretary and Chief Investment Officer of BYD Company Limited, shared insights on the transformation of the global automotive industry, the opportunities for automakers expanding overseas, and the challenges of globalization. He analyzed the current state and future development path of China's new energy vehicle exports.
Li Qian stated that the century-old automotive industry is undergoing a disruptive transformation, with global markets shifting comprehensively towards new energy. Leveraging a complete industrial chain and technological accumulation, China's new energy vehicles hold a leading position in global market share, and China's automobile exports have surpassed those of Japan and Germany for three consecutive years. In 2025, China's total electric vehicle exports reached 7 million units, with export growth momentum remaining strong, solidifying China's status as a major global player in the new energy vehicle sector.
From the perspective of global market potential, the industry has ample room for overseas expansion. The current global penetration rate of new energy vehicles is 26%, with China at 50%, Europe at 38%, and most other countries below 10%, indicating significant growth potential in overseas markets. Based on BYD's own export data, its overseas sales have grown rapidly, increasing from 60,000 units four years ago to over 1 million units in 2025, with an expected 1.5 million units in 2026. Relying on advantages in batteries, energy storage, semiconductors, and AI technology, BYD has strong growth drivers overseas. For example, in the Brazilian market, BYD has contributed to the local adoption of new energy vehicles, surpassing Tesla in 2025 to become the top-selling new energy vehicle brand in the region, with the brand gaining recognition in multiple global markets.
However, automakers' global expansion still faces multiple practical obstacles. Li Qian acknowledged that the current complex geopolitical situation, increasing international trade disruptions, coupled with operational challenges such as cross-border fund settlement, foreign exchange risk control, and logistics clearance, have intensified the difficulties for BYD's overseas expansion. Additionally, diplomatic resistance in some overseas markets further complicates localization efforts.
Li Qian pointed out that BYD is advancing a comprehensive localization strategy, with its factory in Brazil serving as a key implementation. The company plans to continue building local supply chains and settlement systems. He called for support from capital markets, financial institutions, and governments both domestically and internationally. By leveraging cross-border financial services, friendly bilateral diplomatic relations, and a fair overseas business environment, Chinese automakers can better navigate the challenges of global expansion. Utilizing domestic supply chain, cost, and R&D advantages, they can continue to export technology and products to seize the opportunities presented by the global transition to new energy.
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