Inside BYD's strategy to dominate shipping

BYD, a Chinese electric vehicle manufacturer, has developed an innovative strategy by building its own fleet of car-carrying ships. The company owns seven massive vessels, including the Shenzhen, which can transport over 9,000 vehicles.

This shipping initiative began during the post-COVID supply chain crisis when charter prices for car carriers increased dramatically. While Western competitors typically rent space on existing shipping vessels, BYD chose to create its own dedicated fleet. The ships have been successfully delivering vehicles to international markets, especially Europe and Brazil.

In Brazil, BYD's sales jumped from 2,500 vehicles in the first half of 2023 to over 56,000 in 2024. European sales have grown over 300%, even exceeding Tesla's sales in April. This expansion strategy helps BYD compete in the intense Chinese domestic market where over 100 EV brands compete.