Citigroup reports BYD aims to sell 1.5 million-1.6 million vehicles overseas in 2026, up from 900,000-1 million projected in 2025. According to a meeting with BYD management, expansion will be driven by new models across European, North American and ASEAN markets. The report notes BYD expects reduced capital expenditure in 2026 as current production capacity meets demand. This comes as BYD lowered its 2025 domestic sales target by 16% to 4.6 million vehicles amid increased local competition. BYD’s Turkey factory will begin Seal U DM-i production by late 2026, while its Hungary plant starts Dolphin Surf EV production this year.