SHANGHAI, China: As global demand for electric vehicles continues to rise, China's BYD is looking to double its overseas sales to over 800,000 cars in 2025 by expanding its global footprint and sidestepping trade barriers.

The EV giant, which sold 417,204 vehicles outside China in 2024, aims to scale that number significantly through local assembly and strategic market targeting, Chairman Wang Chuanfu told analysts during an earnings call this week.

"We expect a substantial rise in our market share in Britain," Wang said, describing the UK as "very open" to competitive Chinese products. He added that the company sees "great opportunities" in Latin America and Southeast Asia, where both governments and consumers are more receptive to Chinese brands.

To stay competitive amid growing tariffs on Chinese-made cars, Wang said BYD will continue sourcing components from China but assemble vehicles in overseas markets. He did not specify which countries are being considered for new plants.

A BYD spokesperson confirmed the 800,000-unit overseas sales goal but did not elaborate on the chairman's broader comments.

Wang also noted that profitability is increasingly expected to come from abroad. "At a certain stage," he told analysts, "the majority of BYD's profits" will be generated from international markets. He did not provide a timeline.

The company, which is already building factories in Brazil, Thailand, Hungary, and Turkey, plans to continue establishing plants without joint-venture partners. "We have abundant funding," Wang said.

Despite its global expansion, BYD has no short-term plans to enter the Canadian or U.S. markets due to geopolitical concerns and steep tariffs. The Trump administration currently imposes a 100% duty on Chinese-made electric vehicles (EVs).

Wang also expressed confidence in BYD's long-term position, stating, "BYD's profitability per vehicle will exceed Toyota's when we reach their scale," citing better cost control. Toyota sold 10.8 million vehicles globally in 2024 compared to BYD's 4.27 million.

BYD aims to sell 5.5 million vehicles in 2025, buoyed by affordable EVs like the sub-$10,000 Seagull hatchback and built-in smart driving features at no extra cost.

Looking ahead, Wang said the company plans to grow its intelligent tech workforce from 5,000 to 8,000 and hopes to bring its smart driving systems to global markets by 2026 or 2027.