BYD Raises 2026 Export Target to 1.5M After Iran Conflict Pivot

BYD has quickly redirected Middle East exports to Europe amid Iran-related disruptions, raising its 2026 export guidance from 1.3 million to 1.5 million vehicles. Surging fuel prices tied to the conflict drove a 34% year-on-year jump in European EV registrations in April, with fully electric sales up roughly 30% in 2025. Mercedes-Benz noted upward U.S. EV demand momentum while Chinese brands captured nearly 10% global share. Tesla led BYD in Q1 2026 global sales after trailing the prior year, highlighting shifting competitive dynamics for EV makers.