Overseas sales are playing an instrumental role in boosting the share prices of Shenzhen-based automaker BYD, which has been losing ground in its home market due to tough competition from local rivals. The shares of BYD surged on Monday, followed by the recent announcement of BYD’s export orders totaling 100,000 from Mexico and Argentina. The massive export orders boosted investor sentiment, triggering a notable surge in the share price of the company.
Overseas Sales Boom Despite Profit Pressure
Competing with Tesla, BYD gained ample attention in the EV market, winning the title of world’s leading EV manufacturer in 2023. After years of steady growth, BYD experienced a severe sales decline in late 2025 and early 2026, caused by mounting pressure from the domestic price war and expensive expansion plans. To sustain home market share, BYD introduced 30% price cuts in 2025, while boosting research spending. Following a continuous drop in sales, BYD slashed its 2025 annual target by 16.36%. To propel sales in the domestic market, several strategies were executed, including the launch of Linghui and Blade Battery 2.0.
Although the overall sales of BYD fell by 36% to 400,241 in the first two months of 2026, BYD’s general manager of branding and public relations, Li Yunfei, announced during a media gathering in Shanghai that BYD is targeting 1.3 million sales in the overseas market, marking a 24% growth. The recent performances of BYD show signs of recovery, with exports in the overseas market gaining momentum.
BYD Expansions Beyond China — A Growth Driver
Overseas expansions remain a bright spot for BYD, with exports doubling year over year. The growth in the overseas market is underpinned by the company’s strategy of adapting its cost model to local conditions. BYD is making aggressive expansions beyond China, targeting 1.3 million vehicle sales. The EV giant has entered into numerous new markets in recent years, reducing its dependency on the saturated home market. BYD established its footprint in almost 110 countries, consequently driving the sales volume. BYD sold 4.6 million NEVs in 2025, of which 22.9% were overseas sales.
BYD Executive Vice President Stella Li recently announced that the company is establishing a major presence in Latin America, with its Brazilian facility securing export orders totaling 100,000 vehicles for the Argentinian and Mexican markets. At an event in Rio de Janeiro on Friday, March 13, Li announced that BYD’s Camaçari facility is currently operating at an annual capacity of 150,000 units, with a long-term goal of scaling to 600,000 vehicles. Brazil is the company’s primary international market, with annual sales of nearly 113,000 vehicles in 2025. During the event, Li also announced that BYD is planning to build a research center in Rio de Janeiro, investing $53 million. The construction of the research center is expected to commence this year, and the estimated completion is by 2028.
BYD Shares Skyrocket on Massive Order Wins
Tesla’s direct rival BYD’s Hong Kong-listed shares spiked by 7.8% today, reflecting a positive market reaction to the company’s announcement of a massive export deal. The hike represents its biggest single-day gain in 13 months. The company is making an impressive transition from a Chinese EV to a global automaker, diversifying its revenue streams. While BYD experiences sluggish growth in China, its overseas operations continue to dominate export volume, providing a steady growth cushion.
While BYD traditionally maintained a more conservative P/E ratio than Tesla, its transition into a global export powerhouse with a 1.3 million-unit target provides a strong catalyst for a valuation reappraisal.
