BYD is doubling down on its shipping fleet. Executive vice president Li Ke confirmed in a recent interview in Belgium that the automaker has ordered 10 more car carriers, according to Chinese tech outlet Kuaikeji. Combined with an earlier order of eight vessels, BYD's owned fleet will reach 18 ships once all are delivered, with a total capacity exceeding 130,000 CEU (a standard measure for car-carrying capacity).
The move comes as BYD's overseas sales accelerate sharply. In 2025, the company sold more than 1 million vehicles abroad, and from January to August 2026, overseas sales reached 1.158 million units, accounting for over 40% of its total sales. In March, BYD raised its 2026 export target from 1.3 million to 1.5 million vehicles, with Europe among the fastest-growing markets.
BYD began building its own fleet in 2022, investing about 5 billion yuan (roughly $704 million) in the initial eight vessels. The first ship, the "Pioneer 1," launched in January 2024, and since then vessels named after Chinese cities—including Changzhou, Hefei, Shenzhen, Xi'an, and Changsha—have entered service. The "Shenzhen" is currently the world's largest car carrier, measuring 219.9 meters long, 37.7 meters wide, with 16 decks capable of carrying 9,200 standard vehicles.
Shipping rates surge as capacity tightens
The decision to add more ships is driven by a global shortage of car-carrying capacity. Shipping data cited by Kuaikeji shows that the one-year charter rate for medium and large PCTC (pure car and truck carrier) vessels reached $70,000 per day in June 2026, up 65% from $42,500 at the end of 2025. Some 6,500-CEU RoRo ships are fetching as much as $80,000 daily. Industry consultancy Veson estimates that about 1 million Chinese vehicles are currently being diverted to container ships due to the lack of RoRo capacity.
BYD's strategy of owning its fleet rather than relying on third-party shipping is aimed at controlling its logistics. With rental rates high, the per-trip cost of an owned vessel is far lower than market lease prices, and it reduces the risk of delivery delays caused by capacity shortages.
Other Chinese automakers follow suit
BYD is not alone in building its own shipping capacity. SAIC, Chery, and Changan have all placed orders for dedicated car carriers, though BYD currently leads in scale and speed. The company's aggressive expansion reflects a broader trend among Chinese EV makers to secure their supply chains as they push into overseas markets.
With a fleet of 18 vessels and a growing share of overseas sales, BYD is positioning itself to weather the shipping crunch and maintain its global growth momentum.
