BYD Surpasses Geely Amid Global EV Surge Following Oil Shock

High international interest in electric vehicles enabled BYD to overcome a poor start to the year and regain top ranking.

The worldwide energy shortage has boosted BYD's return to the top of China's car industry, enabling it to catch up with... Geely Auto with increasing global interest in electric vehicles.

A Chinese electric vehicle (EV) company based in Shenzhen had relinquished its position as the country's top automaker in the first quarter of 2026 but experienced a significant recovery over the next two months due to rising fuel costs caused by the conflict between the United States, Israel, and Iran. During this time, its international shipments increased by 76 percent compared to the previous year, reaching almost 300,000 vehicles.

The revival has strengthened founder and chairman Wang Chuanfu's vision of making BYD the biggest automobile manufacturer globally by 2030, supported by progress in advanced battery systems and self-driving technologies.

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According to company data, BYD delivered 1.41 million cars worldwide from January to May, representing an increase of 19 percent compared to Geely's 1.18 million units.

Geely, which offers both gasoline and electric cars through brands such as Zeekr, Lynk, and Galaxy, took the lead in the initial quarter, producing 709,538 units versus BYD's 700,463.

Increasing electric vehicle adoption worldwide during April and May benefited BYD, even though the local market was underwhelming," stated Phate Zhang, founder of Shanghai-based data firm CnEVPost. "Strong sales beyond China proved to be the primary factor driving growth for the EV manufacturer.

In the initial five months of this year, BYD delivered 616,907 cars abroad, marking an increase of 65 percent compared to the previous year, which made up 44 percent of overall shipments.

The firm aims to achieve 1.3 million international sales in 2026, representing a roughly 24 percent increase compared to 2025, as stated by Li Yunfei, BYD’s head of brand management and communications, citing factors such as upcoming vehicle releases and a broader distribution system.

Tensions in the Middle East and the short-term shutdown of the Strait of Hormuz—where approximately one-fifth of global oil and natural gas shipments travel—caused Brent crude prices to rise over 60 percent from February 28 to April 29. Since then, prices have decreased by 11 percent, reaching roughly $85 per barrel on Wednesday.

With rising fuel prices, people across the globe have started to favor electric cars as a way to cut down on operating costs.

As the leading global electric vehicle producer, BYD intends to sell over 10 million cars each year by 2030, which would be twice its 2025 output of 4.6 million units. During a shareholder gathering on Tuesday, Wang detailed strategies to surpass Toyota and emerge as the top automaker worldwide.

Towards the end of May, BYD revealed that its The "God's Eye" next-generation driver assistance system will cost only 12,000 yuan (US$1,772), aiming to ultimately reduce traffic collisions once the system is activated.

The action highlighted the firm's commitment to establish itself as a top player in the evolving transportation landscape by developing smarter cars at reduced expenses.

Having secured the second spot behind BYD in vehicle shipments during the previous year, Geely stated in February that it plans to concentrate on increasing driving distance and enhancing charge rates instead of reducing costs to reinforce its standing within China, the globe's biggest automobile marketplace.

During December, the firm established a 2-billion-yuan safety evaluation center in Ningbo, which serves as an industrial key area located in eastern Zhejiang Province.

The holding company of Geely Auto, known as Zhejiang Geiley Holding Group, additionally has ownership of Volvo Cars and maintains an investment in the Mercedes-Benz Group.

Sales of Geely outside China — covering both gasoline and electric cars — increased by 158 percent compared to the same period last year, reaching 371,354 units during the first five months of 2026, which accounted for 31.5 percent of overall shipments.

Chinese automakers, including BYD and Leapmotor supported by Stellantis, are projected to sell 2.5 million cars to consumers in Western Europe by 2028, capturing around 20 percent of the market mainly because of their benefits in manufacturing and innovation merits of industrial processes and technical advancements positive aspects of creation and technological progress advantages related to fabrication and scientific development gains from production methods and tech improvements , as stated by Nick Lai, the head of Asian-Pacific automotive research at JPMorgan.

Chinese manufacturers sold approximately 1 million cars in Western Europe during 2025, covering key regions like Germany, France, Italy, and the UK.

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The article was first published on the South China Morning Post (www.scmp.com), a top-tier news outlet covering developments in China and Asia.

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Hong Kong Bus Lovers Face Loss of $1M Classic Double-Decker Restoration

Two companions specializing in restoring old buses in Hong Kong find themselves compelled to discard their HK$1 million initiative aimed at bringing back a historic double-decker.

Terrence, together with his blacksmith companion Chung, who is employed in the automobile sector, had wished to refurbish an old China Motor Bus Company (CMB) vehicle at their workshop located in the northwestern part of the New Territories.

The former owner purchased it from a junkyard when it was decommissioned by New World First Bus approximately 20 years back — we acquired it in 2019," Terrence, who provided only his first name, mentioned to HKFP earlier this week. "The engine and transmission are still functional, but the chassis is severely deteriorated.

It's unfortunate, but unavoidable - I have to cut down on hobby-related costs as I grow older. Additionally, we must conserve our resources for bus restoration projects.

In a Facebook post They stated that "the bus will be considered for recycling if no one shows interest by the end of this month."

Transport revolution

In the 1960s, CMB enhanced its collection of vehicles by adding the Guy Arab, a contemporary model manufactured in Wolverhampton, England.

As per Terrence, a regional firm upgraded part of the fleet from single-level to two-story designs. These vehicles were subsequently put into service to address the increasing number of residents in the city.

CMB was the pioneer in bringing double-decker buses to Hong Kong. Nevertheless, its bus services ceased operation in 1998, and it shifted to property development.

The bus company was acquired by New World First Bus.

The New World First Bus placed the Guy Arab under consideration for the task of conveying tree-felling employees throughout the city. For as long as it remained in service until 1998, personnel utilized its open platform to trim excessively grown vegetation along roadways.

"The bus served as a police observation post at Victoria Park during each Lunar New Year," Terrence said to HKFP.

A 2022 scholarly study from the Education University of Hong Kong, authored by Chiu Chuk-yin, states that the future of CMB became determined in 1981 after Paliburg Investments made an aggressive attempt to acquire the company.

"From that point onward, CMB became more cautious in managing its bus operations, and its shortcomings were fully exposed following a deadly accident in 1982. During the bus drivers' strike in 1989, CMB was intended to be removed from the list of public transportation providers as the Hong Kong government ceased to view CMB as a dependable bus company," the article stated. said .

The decrease in "the number of bus routes in 1993 and 1995 marked the beginning of the conclusion of CMB's transportation services."