Xin Lang Cai Jing·2025-11-04 09:09Core Viewpoint - Goldman Sachs predicts that overseas markets will become the growth engine for BYD Company (01211) over the next decade, raising the forecast for the company's overseas sales outside the U.S. from 5% to 14%, reaching between 1.5 million to 3.5 million units from 2026 to 2035 [1] Group 1: Market Penetration and Growth - The current electric vehicle penetration rate in key overseas markets lags behind China by approximately four years, with expectations that new model launches will drive the penetration rate to reach the level of China's in 2028 by 2035, resulting in a market size of 28 million units [1] - BYD's vehicle models possess competitive advantages, with some being among the best-selling in the market [1] Group 2: Company Strategy and Positioning - The company has established a rich model portfolio in the domestic market, supported by continuous R&D investment and an expanding sales network, which positions BYD favorably for global market expansion [1]