Chinese battery and mobile phone maker BYD, which wants to become a leading electric vehicle producer, has set a 2010 vehicle sales target of 700,000 units or four times its 2008 sales, a senior executive was quoted as saying.
BYD Auto sold 170,000 vehicles in 2008 and aims to sell 400,000 units this year, export chief Henry Li told Reuters, adding that production capacity would double every year for the next few years and that he expected vehicle sales to reach 8m-9m units by 2025.
The company also expects to export half of its capacity by 2025.
“Exports will account for a minimal portion (of sales) of several thousand to 10,000 units this year,” said Li.
“This is because of the financial crisis overseas; we are focused on domestic growth,” he told Reuters.