BYD chairman says company aims to overtake Toyota by 2031
BYD, the Chinese electric vehicle giant, just announced it's aiming to overtake Toyota and become the world's biggest carmaker by 2031.
At its recent shareholder meeting in Shenzhen, Chairman Wang Chuanfu pointed to BYD's advances in battery tech, fast-charging systems, and growing international sales as its main drivers.
BYD to ramp Blade battery production
In 2025, BYD sold 4.6 million vehicles (sixth in the world), while Toyota was way ahead with more than twice that.
To catch up, BYD needs to seriously boost production and get stronger in markets outside China—especially since price wars at home have hurt domestic sales.
Its plan? Ramp up production of their Blade Battery (known for safety and energy-density advantages) and keep pushing into new countries like Brazil, Britain, and Australia.
Wang summed it up: battery production is critical if it wants to meet future vehicle sales and hit that top spot.