BYD aims to overtake Toyota as world's No. 1 carmaker by 2025

Shanghai, September 17 (Gasgoo.com) BYD Co, China's largest rechargeable battery maker and an ambitious automaker, said yesterday that it is aiming to become China's No. 1 automaker by 2015 and overtake Toyota to become the world's No 1 carmaker by 2025, state-run China Daily reports.

"We have plenty of time to become China's top carmaker by 2015 with a complete and mature product line-up. I am sure we can achieve the target earlier than scheduled," Wang Jianjun, deputy general manager of BYD Auto Sales Co told the newspaper.

"BYD was also making efforts to overtake Toyota to become the world's No 1 carmaker in 2025, with annual sales of over 10 million cars expected by that time, Wang said.

In the first eight months of 2009, BYD sold 246,881 cars in total, just ahead of rival Chery Automobile Co, which reported sales totaling 240,275 units. Its most popular car, the F3 sedan has been China's top selling model for three months so far this year.

Toyota, which displaced GM as the world's biggest automaker in 2008, sold nearly 9 million cars and trucks in 2008, while GM sold 8.4 million.

BYD expects to sell 400,000 cars this year and to manage annual sales exceeding 10 million by 2025, Wang said.

More details at China Daily