BYD's China Business Slows as Overseas Expansion Gains Momentum
BYD Company, the world’s largest new-energy vehicle maker, is experiencing a slowdown in its domestic Chinese market due to intense competition and pricing pressures. In the first half of 2026, revenue fell by 7.1% year-over-year to RMB 344.8 billion, with net profit declining 20.5%. Despite these challenges, BYD is rapidly expanding internationally. Overseas sales have become a significant growth driver for the company. Revenue from international markets reached RMB 181.3 billion in H1 2026 — up about 34% year-over-year and accounting for roughly half of total revenue. In August, overseas vehicle sales surged by 134.6%, while domestic sales fell by 14.3%. International operations also showed improved margins at around 22%, contributing to an overall margin improvement. This shift is reshaping BYD’s investment narrative from a China-focused EV manufacturer into a global automaker leveraging its manufacturing scale, battery technology, and supply chain expertise internationally.
Topics: BYD China EV market slowdown International expansion New-energy vehicles