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Chinese electric vehicle maker BYD targets 20% jump in annual sales

Chinese electric vehicle giant BYD set a 3.6 million sales target for 2024, up 20% from its record-breaking sales last year, China Business Network (CBN) reported on Wednesday. The company aims to sell 500,000 vehicles overseas this year, more than double last year's total, and expects that to reach 1 million in 2025, Chairman Wang Chuanfu was reported to have told a BYD investor meeting. Wang's remarks came after BYD posted its slowest quarterly profit growth in two years, with EV sales losing momentum in the world's biggest auto market.