BYD Leads China's Global EV Push As Overseas Demand Accelerates

Chinese EV makers BYD and Chery are rapidly expanding overseas sales, with both reporting 81% year-over-year growth in May. Chery's overseas deliveries now represent 73% of total sales, while BYD's account for 42%. Chinese automakers are leveraging technological advantages to capture higher profit margins abroad—potentially 4x greater than domestic markets—as they face weaker domestic demand. Chinese EV brands have captured over 15% of Europe's electric car sales, with significant growth in the UK and Brazil.