BYD's Pakistan Plant Takes Shape as Seagull Pre-Orders Open and Exports Do the Heavy Lifting
Published on 10/10/2026 at 03:20 | Editorial boerse-global.de
BYD has kicked off reservations for the second generation of its best-selling Seagull compact EV, with the revamped model — now badged the Great Seagull — slated to reach Chinese showrooms before the end of the year. The announcement came a day before the stock closed Friday's European session at EUR 8.65, up 4.2%, though a separate trading update put the shares at EUR 8.61 for a 3.8% gain as a broader rally across Chinese electric-vehicle makers provided additional lift.
A Bigger, Punchier Seagull
Figures from China's Ministry of Industry and Information Technology show the new Seagull stretching to 4,205 mm in length with a 2,650 mm wheelbase — 425 mm and 150 mm more than its predecessor, respectively. Power rises sharply as well: a 95 kW unit now drives the rear axle, replacing the outgoing 55 kW motor. FinDreams, BYD's battery subsidiary, supplies lithium iron phosphate packs in 29.99 kWh and 39.23 kWh capacities, and an optional LiDAR roof sensor will be offered.
The outgoing generation ranks among the world's best-selling pure EVs, with more than 212,000 units delivered through August. Management has yet to disclose pricing for the new version.
Pakistan Becomes Plant Number Six
On the production front, BYD Vice President Liu Xueliang confirmed that assembly operations in Pakistan will begin in the second half of 2026. The facility starts at 25,000 vehicles a year, scalable to 50,000, and will create over 1,100 direct jobs — making it the company's sixth manufacturing site outside China. BYD is also in talks with local partner Mega Motor Company about rolling out ultra-fast charging infrastructure built around the next generation of its in-house Blade battery.
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Logistics are expanding in tandem. The automaker has ordered ten more car carriers from China Merchants Industry, each capable of holding 9,200 standard passenger vehicles, bringing its owned fleet to 18 ships by 2029.
September Sales and the Export Engine
Group-wide, BYD moved 463,561 new-energy vehicles in September, up nearly 17% year on year. The nine-month picture is less flattering: global volumes slipped 3.94% to 3,131,576 units as domestic demand stalled. Overseas shipments of passenger cars and pickups hit 179,877 units in September, a jump of 153.9%, according to agency reports cited by Reuters — growth that has helped offset the soft home market.
Europe is emerging as a proving ground. In the UK, BYD logged 20,140 registrations for September, an 80% surge year on year and a 5.76% market share that made it the month's second-strongest brand.
Valuation, Analyst Views and the US Question
BYD's market capitalization currently stands at roughly EUR 75.72 billion. SDIC Securities International reiterated its buy rating with a target of HKD 103.6, pointing to solid growth prospects. UOB Kay Hian trimmed its sales estimates for Chinese automakers across 2026 to 2028 following the weak first nine months, but kept BYD as a top pick and projected a recovery in 2027. The stock remains down about 19% since the start of the year — a decline of roughly 20% on one reading — leaving investors to weigh whether the recent momentum marks a genuine turning point or just a bounce in a still-difficult market.
Geopolitics looms as the biggest obstacle. Executive Vice President Stella Li said yesterday that tensions between major economies represent the foremost hurdle to global expansion, and as a direct consequence the company is holding back from selling passenger cars in the United States for now. Li also ruled out partnerships with other Chinese firms, effectively shutting the world's second-largest auto market out of BYD's revenue base for the foreseeable future.
Paris as the Next Test
Attention now turns to the Paris Motor Show, running from October 12 to 18, where BYD will unveil a new model at a press conference on the opening day. How the company positions that product offensive for European buyers in the crucial final quarter — and whether export momentum can keep compensating for weakness at home — will shape the next leg of the story.
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