Electric Vehicle Manufacturer BYD Cuts Out the Middleman, Starts Its Own Shipping Fleet. And the Results Are Obvious.

Core Insights - BYD has strategically developed its own fleet of roll-on, roll-off cargo ships to enhance its vehicle export capabilities, addressing shipping challenges exacerbated by the pandemic [1][2] - The company aims to sell half of its vehicles outside China by 2030, focusing on increasing exports to Europe and Latin America, while currently not targeting the North American market [3][4] - BYD's overseas sales have significantly increased, with 464,266 units sold in the first half of the year, accounting for 22% of its total global sales of over 2.1 million vehicles [5][6] Sales Performance - In the first half of the year, BYD's foreign sales generated 135 billion yuan ($19 billion), contributing 36% to the company's total revenue of 371 billion yuan ($52 billion) [6] - The company has achieved notable sales success in various international markets, including Hong Kong and Thailand, where it outperformed competitors like Tesla and Xpeng [7][8] - BYD's fleet now includes at least seven large ships specifically designed for vehicle transportation, facilitating its global expansion efforts [8]