BYD Company (HKG:1211, SHE:002594) aims to become the world's largest automaker by scale within five years, Chairman Wang Chuanfu said at the company's annual general meeting, according to a report by state-owned Shanghai Securities News on Tuesday.

Wang said BYD's growth will be driven by its second-generation Blade Battery, flash-charging technology, and new products planned over the next two years, with domestic and overseas markets expected to serve as dual growth engines, according to the report.

He also said overseas sales are on track to exceed the company's initial target of 1.5 million vehicles, citing strong demand and years of investment in international markets, the report said.

Separately, Wang said the company's sales this year will depend largely on battery production capacity, adding that BYD will allocate resources to maximize output.

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