China's BYD aims for country's top slot before 2015
- Source: Xinhua
- [14:53 September 17 2009]
- Comments
China's battery and electric carmaker BYD Co. is aiming to become the nation's largest passenger car manufacturer ahead of its targeted 2015 schedule, China Daily reported Thursday.
The newspaper said, citing a senior company executive, that BYD was also making efforts to fulfill its dream of overtaking Toyota as the world's No. 1 carmaker, through annual sales of over 10 million cars by 2025, via a series of "prudent" moves it made recently.
Wang Jianjun, deputy general manager of BYD Auto Sales Co. Ltd., said the company doesn't have any plan to boost its business by acquiring foreign brands or assets.
In the first eight months of 2009, the Shenzhen-based firm sold 246,881 cars in total. Its half-year sales were up 133 percent over last year. Wang said he was positive BYD would sell 400,000 units this year.
F3, the most popular BYD model, was crowned China's best selling car thrice - in January, July and August - this year. The company is planning to sell 180,000 F3 cars this year.
In August, sales of BYD's small car F0 touched 10,023 units, making the company the first local car brand with two models breaching the 10,000-unit sales barrier.
Last week, the Hong Kong-listed company said that it had received the necessary shareholder approval for a public float on the Shenzhen Stock Exchange within one year, with a 100-million-share issue to raise funds for its new energy vehicle projects.
At the end of July, BYD said it planned to expand its existing production facility in Xi'an by setting up a new plant with an annual output of 400,000 units to produce its F3 cars, other new models and auto parts.
Wang said these prudent moves promise healthy development for BYD in the next few years.
