But then they would say that wouldn’t they – because that is what they sell and to say anything else would be counterintuitive. But they may have a point.
The company’s forecast reflects a structural shift already visible across China’s automotive market.
EVs and plug‑in hybrids accounted for more than 50% of new sales earlier this year, and BYD argues that rapid technological gains, falling battery costs and intensifying competition will push that share dramatically higher.
Executives say the transition is no longer policy‑driven but consumer‑led, with buyers increasingly choosing electric models for performance, running costs and reliability.
China’s charging network—now the world’s largest—has also reached a level of density that removes much of the friction from EV ownership.
At the same time, domestic manufacturers are launching dozens of new models annually, compressing prices and accelerating innovation. BYD believes this pace will make combustion‑engine cars a niche product within a few years.
The prediction carries global implications. China is already the world’s biggest EV market and the largest exporter of electric vehicles.
If its domestic market becomes overwhelmingly electric, economies of scale will deepen, pushing prices down worldwide and reshaping competitive dynamics for legacy carmakers.
For BYD, the message is blunt: the combustion era is ending faster than expected, and China is leading the charge.