BYD's &#34;going global&#34; business is gaining momentum.
In January this year, BYD's first car roll-on/roll-off ship was put into operation. In October, BYD's second car roll-on/roll-off ship set sail. In November, BYD's overseas sales exceeded 500,000 for the second consecutive month... It is evident that BYD's overseas sales are becoming stronger and stronger. So, what are the main export countries for BYD?
On December 5th, Morgan Stanley strategy analyst Tim Hsiao and his team published a report counting BYD's main export countries. Brazil, Thailand, and Australia rank in the top three. In addition, BYD has recently regained momentum in the European market and is actively promoting localized production in Southeast Asia and Latin America.
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Morgan Stanley stated that Brazil remains BYD's largest export country so far this year.
BYD's announcement shows that Brazil accounts for 30-35% of BYD's total overseas sales and has further accelerated in October. In October, BYD's sales in Brazil totaled 7,200 vehicles, a significant increase compared to the previous monthly sales of 5,000 to 6,000 vehicles.
Thailand and Australia are BYD's second and third largest export countries, respectively.
After the BYD Atto 3 model made its debut in Australia in February 2022, it became very popular. In recent months, Australia has become one of BYD's top three markets globally.
In addition, BYD has recently applied for the Atto 3 Up trademark in Australia and New Zealand. Morgan Stanley believes this indicates BYD's intention to launch a more affordable electric SUV model locally.
Besides the top three export countries, BYD has also recently regained momentum in the European market.
Morgan Stanley stated that despite increasing protectionism in Europe, BYD's monthly delivery volume in Europe surged in September and October, reaching 5,000 to 6,000 vehicles, compared to only 3,000 to 4,000 vehicles in the earlier months of this year.
Specifically, the UK remains BYD's largest market in Europe, with EU countries accounting for over 70% of BYD's sales in the European market.
Additionally, BYD is actively promoting localized production in Southeast Asia and Latin America.
Due to escalating geopolitical tensions, BYD announced that the company plans to establish local production bases in Thailand, Brazil, Uzbekistan, Hungary, Indonesia, Turkey, and Cambodia.
According to Morgan Stanley citing BYD's management, factories in Thailand (150,000 units capacity) and Uzbekistan (50,000 units capacity) have begun production, while production bases in Brazil and Hungary are expected to be operational by the end of 2025.
Morgan Stanley expects these to become key electric vehicle production centers for BYD in Southeast Asia and Latin America over the next decade

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Brazil, Thailand, and Australia rank in the top three. In addition, BYD has recently regained momentum in the European market and is actively promoting localized production in Southeast Asia and Latin America

- BYD's international business is expanding significantly, with notable achievements in overseas sales and shipping operations.  
- Major export markets include Brazil, Thailand, and Australia, with Brazil accounting for 30-35% of BYD's total overseas sales, showing a substantial increase in October.  
- The company is also focusing on local production in Southeast Asia and Latin America, with factories in Thailand and Uzbekistan already operational, and plans for additional facilities in Brazil and Hungary by 2025.

Besides China, where does BYD sell the most?