This page is updated to track BYD plans, and upcoming models, set for widespread release in "the rest": the markets beyond China, USA and Europe.
In 2024, EV marketing data still entirely focuses on 3 regions: China, the USA, and Europe, which so far account for 95% of EV sales. The remaining 5%, "the rest" is a huge over 2/3 of the world market of Oceana including Australia & New Zealand, Latin America including Brazil and, Mexico, the Middle East, Africa and Asian including India, Indonesia, Thailand, Malaysia and Singapore.
While one strategy does not apply the same for the entire "the rest" market, there is enough in common between many markets to make this 2/3rd of the world a much greater prospect than the 5% suggests. In 2022, before BYD even became sales leader in China, BYD began to get serious about exports, and the export strategy continues to evolve and become more purposeful and includes plans for "the rest".
This page is updated to track BYD plans, and upcoming models, set for widespread release in "the rest": the markets beyond China, USA and Europe.
In 2024, EV marketing data still entirely focuses on 3 regions: China, the USA, and Europe, which so far account for 95% of EV sales. The remaining 5%, "the rest" is a huge over 2/3 of the world market of Oceana including Australia & New Zealand, Latin America including Brazil and, Mexico, the Middle East, Africa and Asian including India, Indonesia, Thailand, Malaysia and Singapore.
While one strategy does not apply the same for the entire "the rest" market, there is enough in common between many markets to make this 2/3rd of the world a much greater prospect than the 5% suggests. In 2022, before BYD even became sales leader in China, BYD began to get serious about exports, and the export strategy continues to evolve and become more purposeful and includes plans for "the rest".
Synopsis: “The rest” could be next growth market for BYD.
Right wing anti-EV politics could play a role in the US and Europe and China faces a time of reduced economic growth. However, that still leaves a large part of the world currently undersupplied with EVs as a logical target for growth.
It is easy to overlook “the rest”. Total the global EV sales outside China, Europe and the US in 2023 accounted for only 5% of all EV sales, but almost 69% of the world’s population. While population numbers are not exact, and definitions of “Europe” can differ from those used for vehicles statistics, as of early 2024 8.1 billion minus China at 1.4 billion, USA at 0.335 billion, and Europe at 0.740 billion leaves 5.625 billion people.
Using sales figures for not just EVs but all vehicles, “the rest” represents total 22.76 million of the global vehicle sales of 81.6 million in 2022) and 21.09 million of the 65.27 total global passenger vehicle sales in 2023, “the rest” represents at around 28% of the world global vehicle sales and 32% of passenger vehicle sales.
This means “the rest” is a larger market for vehicles than Europe or the USA, and almost as large a market as China.
Market Size: the rest.
BYD in particular is well placed to grow sales in “the rest”. Global EV sales are dominated by BYD and Tesla, but BYD has a product range from low end EVs that from US$10,000, to EV based plugin-hybrids that can compete on price with regular gasoline vehicles and even high end EVs for the luxury market. This breadth of product range to enables BYD to challenge for vehicle sales leadership in almost any market.
Australia is an example of market where BYD is targeting a rapid path to market leadership. BYD will launch a product mix different from Europe and more in common with much of “the rest”, and the produced to be released in Australia include most BYD products scheduled for widespread export to other countries of “the west”.
Another bonus to “the rest” is that most markets are at least a “level playing field” in terms of tariffs. As opposed to USA and Europe, with the exception of South Korea and Japan, the “rest” comprises mostly markets without their own vehicle industry, reducing the risk of country specific tariffs creating barriers to sales.
BYD world domination plan for China, USA, Europe and “the rest”.
China.
With “NEVs”, which include both pure battery electric EVs or BEVs and EV based plugin hybrid EVs having already reached 50% market share in April, the market has reached a point where the sales volume of NEVs should ensure market dominance from this point.
BYD grew from outside the top 10 in 2020 to by 2023 becoming #1 in China and overtaking VW, Toyota and Honda for market leadership in total vehicle sales. While VW, Toyota and Honda remain are now 2nd, 3rd and 4th, they all face challenges to their sales which means the position of BYD as market leader in 2024 is very much assured.
The BYD product mix in China reflects a company seeking to dominate the market, using sub-brands and a very wide range of models.
Flooding new markets with the huge range of models available in China would be chaos, so it falls to BYD to determine which products to bring on what schedule to other markets around the
“The Rest”: complex, but big potential.
Although the markets of the “the rest” when combined are a larger vehicle market than Europe or the USA, there is a not only multiple regulations and market needs, but also a wider variety of customers.
There are varied safety requirements and rating systems, and different rules for vehicle compliance, however, the more countries covered, the more often the more often rules become repeats of those already encountered.
BYD seems to have reference markets for trying specific things. Many countries with LHD vehicles (right side traffic) are used to test market vehicles available in China but not yet confirmed as being a “global” model for all “rest” markets where there would be demand, while committing to RHD production is very much confirmation that a vehicle has been selected to be a “global” model and sold everywhere possible.
With research mostly based in Australia, and with Australia being market requiring RHD vehicles meaning that vehicles released in Australia have been selected for “global” sales to every country of the rest where there is potential demand, the main focus of updates will be vehicles planned for Australian release.
BYD in Europe.
At least outside management at BYD, there is uncertainly around the BYD strategy for Europe. So far, BYD vehicles have been priced higher in Europe relative to other vehicles from China. For example, the BYD Seal 07, so far mostly simply known as the BYD Seal, is more expensive than the made in China Tesla Model 3 in Europe, but significantly less expensive than the Model 3 in “the rest” countries like Australia. While it may seem that Tesla, being an American company may be a special case, the same pricing pattern also occurs between BYD and MG cars from Chinses SAIC. While there are currently tariffs of 10% on Chinese cars imported to Europe, these tariffs could increase.
The import tariff on Chinese sedans and SUVs is currently 10%. Last year Chinese brands sold just over 350,000 sedans and SUVs in Europe, mainly electric ones. MG led the way with 239,000 mainly EVs, about double 2022’s total. BYD sold about 16,000, but it is mounting a big European sales effort, and plans to build a factory in Hungary.
Chinese local electric car prices can be as low as $10,000, while prices for EVs in Europe, even for so-called “affordable” ones, often start at around $27,000.
The EU Commission hasn’t said how much the tariff on Chinese imports might be, but any decision will have to weigh the chance of retaliation, said UBS in a report.
Several possible reasons for BYD Europe pricing have been proposed by various people:
BYD has engaged dealer groups in Europe who apply higher pricing that other brands to increase their profits.
BYD sets pricing to avoid Europe feeling the need to apply tariffs.
BYD sets pricing to allow for the very real possibility of backdated tariffs being applied.
Prices of BYD vehicles in Europe are set that the price BYD hopes can be benchmark for their vehicles in other markets.
BYD in the USA.
While tariffs in Europe are barrier at the current 10%, in the USA tariffs on Chinese vehicles are already at 25%, and Donald Trump has said that if elected, he would raise them to 100%.
The BYD Shark has already been released in Mexico, and will be released in New Zealand by June 16th 2024.
It has repeatedly been said that BYD will launch 4 new models in Australia before the end of 2024. The BYD Sealion 06 and “Shark” seem to be numbers #1 & #2, with a little less certainty about #3 and only really guesses as to #4.
BYD Sea Lion 07.
The BYD Sea Lion 07 has been confirmed for New Zealand and shown in Thailand, and even confirmed and repeatedly seen in Right Hand Drive. It would be very surprising for the vehicle to be launched in New Zealand without also being launched in Australia.
This seems almost certain to be #3 and would give BYD a direct competitor for the #3 bestselling car in Australia.
2024 or 2025: What else is coming to Australia & “the rest”?
It has repeatedly been said that BYD will launch 4 new models in Australia before the end of 2024. The BYD Sealion 6 and “Shark” seem to be numbers #1 & #2, with a little less certainty about #3 and only really guesses as to #4.
BYD Dolphin Mini / Seagull?
BYD first registered the vehicle trademark for “Seagull” in April 2023 and the for the “Dolphin Mini” in October 2023.
Expect a longer-range Seagull with a blade 2 battery and possibly E-platform 4.0 in 2025.
It has now been confirmed that the “Seagull” will come to Europe in some form in 2025, but as a revised model rather than the current version as sold in China. This is consistent with what happened with the BYD Dolphin, which did not reach markets like Australia and Europe without modifications that definitely allowed for larger battery capacity, and it is suggested allowed for greater crash safety.
Simply applying the conversion from 1.5 to 1.9Wh/kg would give the current largest battery version of the Seagull a range similar to the 2022 long range Atto 3, which could make this a very competitive vehicle.
BYD will bring the next generation of its big-value BYD Seagull supermini to Europe and the UK, Auto Express can reveal, after the Chinese brand’s executive vice president Stella Li confirmed the plan on the eve of the Beijing Motor Show.
In the coming months we will be hearing a lot about the BYD Seagull, the Chinese compact electric car that will arrive in Italy in 2025 and is being considered in the UK which could really change the small EV market.
BYD battery subsidiary FinDreams will launch a second generation version of its blade battery later this year, possibly in August. One of the key upgrades in the new battery will be the energy density which is expected to reach 190 Wh/kg.
When introduced the first generation blade battery had an energy density of 140 Wh/kg which has since been increased to 150 Wh/kg.
In several markets including Australia, BYD trademarked the names BYD King and BYD King L at the same time they trademarked the BYD Shark, and then BYD later announced as the official name for the BYD pickup or Ute as being the BYD Shark, leaving the question as to why they trademarked the BYD King name.
The name “King” does not fit with Ocean series naming and seems like an out-of-date name for an Ocean Series vehicle but has been used as the export name for the “Chaser 05”. While “King” could allow for a Dynasty Series model, generally BYD has used the same names outside China unless, as with the Yuan which is also the name of a currency, there is a reason for a name change, and has been used as as a name replacement for a vehicle named as a warship, which does make sense.
However, while bringing the “Chaser 05” to Australia may have made sense, now with the release of the Seal 06 DM-i (or Seal 6) it would seem to make far less sense. The dimensions of the Chaser 05 are listed 4780 l, 1837 w, 1495h and for the Seal 06 DM-i as 4839 l, 1875 w, 1495h, which makes it only 60mm longer and 38mm wider, which makes the newer vehicle released after the registration of the name too close to bother with both, and clearly the better vehicle to import to markets like Australia.
Of course, they may have an entirely new use for the King name, and although I think it most likely the intent in is to bring a DM-i sedan like the Chaser 05 or Seal 6 to Australia, it is also worth considering how they could re-use the King name.
While “King” could be used for a Denza model, there seems little reason to change the Denza name for use outside China. Fangchengbao and Yangwang seem more likely to be names that are changed for outside of China. Although the trademarks are just BYD King and King L, this would set the precedent for using the names based on King such as “King 5” of “King 8”, so could be in preparation for an entire series rather than just one vehicle.
Leopard / Bao 5: A DMO Showcase.
Although some hope for it, and there was a trademark filing in Feb 2024, the Bao 5 is probably not the 4th BYD for release in markets like Australia in 2024, but even if not coming soon, it does showcase what a DMO powertrain like one in the upcoming pickup / Ute can achieve. What is not to like?
The BYD Bao 5 has 1.5 l engine, yet despite weighing 2,890 kg (6,371 lb.), does 0-100km in 4.8 second, because it is powered by 505kW courtesy of its electric motors. For comparison the Land Rover Defender V8 weighs 2,546kg yet its 5-litre supercharged engine takes 5.2 seconds from 0-100, and the Mercedes G500 weights 2.485kg comes with a 4 litre turbocharged V8 tuned by AMG takes 5.8 seconds and, as a reviewer puts it, the Bao 5 “smokes” them in performance. With a 1.5 litre engine. Oh, and 505kW of electric power.
505kW of power and a 0-100 time of 4.8 seconds from a heavy ladder frame off-roader weighing 2,890kg that achieves 7.5 l/100km in urban driving when driven using gasoline and without electric charging.
In China, half the price of base model Landrover discovery, and arguably more capable than a Mercedes G500 GWagen.
Note that “Feng Cheng Bao” trademark registration and replaced by “Fang Cheng Bao” and “Formula Bao” and the “four diamonds” logo is also protected.
Yangwang U8??
Trademarks U6, U7, U8 and U9 were all filed back in June 2023, and even “Yangwang” and the logo the following month.
It is suggested the U8 is to be coming to Europe in 2024 and to Australia, although not confirmed, in 2025. The U8 gives BYD hybrids a halo car.
The YangWang U9, priced at 1.68 million yuan (232,000 USD), boasts a 0-100 km/h acceleration time of just 2.36 seconds. The vehicle measures 4,966 mm in length, 2,029 mm in width, and 1,295 mm in height, with a wheelbase of 2,900 mm, and curb weight of 2,475 kg. It comes standard with a carbon fiber roof and rear diffuser, with a racing spoiler as an option.
The four-motor setup delivers a peak torque of 1680 Nm, a top speed of 309.19 km/h, and a 0-400 meter sprint time of 9.78 seconds. The supercar’s 80 kWh battery provides a CLTC range of 450 km, with dual fast charging enabling a 30-80% charge in just 10 minutes, while slow charging achieves the same in 7 hours. The YangWang U9 also features the DiSus-X suspension and stabilization system, enabling it to drive on three wheels, jump, and dance.
is also protected.
logo the following month.