BYD, a leading Chinese electric vehicle and electronics manufacturer, has signed a strategic deal with Cosco Shipping to expand its export capacity, leveraging Cosco’s extensive global transport network to distribute products ranging from electronics to hybrid and all-electric vehicles.
According to BYD, overseas sales rose sharply in the first half of 2024, with volume increasing by 151% year-over-year. Through the partnership, Cosco Shipping Special Transport, a subsidiary of Cosco Shipping Group with the world’s largest special transport fleet, will facilitate BYD’s global deliveries. This collaboration aims to enhance the automobile industry supply chain and create integrated logistics solutions to support the export of BYD’s expanding product line.
In addition to Cosco, BYD has allied with Hyundai Glovis, a South Korean logistics company that specializes in pure car and truck carriers (PCTC). Hyundai Glovis will aid BYD’s export strategy by providing dedicated transport vessels.
With these agreements in place, BYD anticipates the overseas market could account for 50% of its total sales in the future. “These strategic partnerships are crucial as we expand our global footprint and build resilience in our export logistics,” the company noted in a recent statement.
