On January 15, 2026, BYD Co. Ltd. (OTC: BYDDY) signed a memorandum of understanding with ExxonMobil to deepen collaboration on hybrid electric vehicle powertrains. The agreement calls for joint development of at least five pilot hybrid modules over the next two years, targeting a 20% improvement in fuel‐cell efficiency and a 15% reduction in system weight. Both companies will co-chair a new technical standards committee and commit up to $50 million in combined R&D funding through 2028. The partnership also extends to global supply-chain integration, with ExxonMobil pledging logistics support for BYD’s planned rollout of hybrid models in North America and Europe beginning in late 2026.

BYD continued its rapid climb in Europe during December 2025, selling 27,678 units—a 229.7% increase from 8,395 units in December 2024—and reaching 187,657 units year-to-date, up 268.6% from 50,912 units a year earlier. These figures propelled BYD past Tesla to become the region’s top EV seller for the first time, capturing a record 12.8% share of the European electric-vehicle market. Battery electric vehicles accounted for 17.4% of total registrations in the EU last year, and BYD’s models, led by the Dolphin and Seal series, now occupy three of the top five best-selling slots in Germany and France.

BYD has agreed to invest $130 million with Vietnam’s Kim Long Motor to establish a 1-gigawatt-hour capacity battery manufacturing facility in Binh Dinh province. Slated to begin production in Q4 2027, the plant will supply cylindrical cells for commercial electric trucks and buses across Southeast Asia. BYD projects annual output of 500,000 battery packs by 2028, supporting its goal to sell 1.3 million vehicles outside China this year. Local government incentives include a 50% reduction in corporate tax for the first five years and expedited land-use approvals.