When talking about the global automotive scene nowadays, it is safe to say, we can no longer ignore Chinese carmakers. Over the last decades, companies like BYD and Geely have been recruiting specialists from long-established auto-companies and even buying some of the legacy carmakers.
BYD wants to acquire one of the largest legacy carmakers
In a recent interview with Bloomberg, BYD CEO, Stella Li shares that the Chinese company is ready to acquire one of the Top 10 car companies. BYD (short for “Build your dreams” is currently the largest Chinese car company, and a leading manufacturer of fully-electric and plug-in hybrid vehicles.
Stella Li underlined the structural challenges that currently plague US, Japanese, and European companies as many backtracked on their electrification strategies. One of the challenges is having to maintain a diverse portfolio of models, including ICE, hybrid, and full EV models. Meanwhile, BYD is focusing on what it calls “New Energy Vehicles” - essentially, BEV models including EV and PHEV offerings, in the luxury (Dynasty series) and mass-market (Ocean series) segments.
Which are the Top 10 car companies currently?
Looking at the top 10 largest car companies, the list goes like this:
- Toyota (including Lexus)
- Volkswagen
- Hyundai-Kia Group (including Genesis)
- Renault-Nissan-Mitsubishi Alliance
- General Motors
- Stellantis
- BYD Auto
- Honda Motor
- Ford Motor Company
- Suzuki Motor Corp.
The most likely candidates
The CEO of the Chinese company does not mention a specific name at this point, but it is easy to see which of the major companies face the largest challenges. Despite Honda’s recent gamble with its EV models, the company is still fairly stable. Toyota and Volkswagen are out of the question. The same goes for GM and Ford, the latter of which is (reportedly) bringing back the Fusion name and considering a new Ute model, inspired by the classic Falcon - not a move associated with a struggling company.
Stellantis seems like a likely candidate, but it may already be “taken.”
Stellantis is currently facing major challenges. The company reported a loss of around €2.3 billion in the first half of 2025. Profits plummeted by 50 percent compared to the same period in 2024, and high inventories on dealer lots paint a grim picture as Stellantis is facing steep competition from companies like Toyota, Honda, and Hyundai. Stellantis is also one of the leading car companies for the most recalls in 2025, and quality issues seem to persist.
That said, Stellantis entered a partnership with another Chinese company - Leapmotor - creating a joint venture under the name Leapmotor International, back in 2024. Stellantis has a 51-percent control share. However, Stellantis is faced with major restructuring, which may include cutting underperforming brands like Maserati. The company is also looking for new partnerships with Chinese automakers, which doesn’t exclude a deal with BYD, although complete assimilation by the Chinese carmaker is out of the question.
Renault-Nissan-Mitsubishi may be the wild card in the equation
The talks between Nissan and Honda have become near-biblical at this point. Negotiations are still happening, but no deal has been reached. The French carmaker, Renault, still has a 15-percent share in the Japanese company, which is also facing rapid restructuring. Nissan is still bringing out some good models, including the value-packed Sentra and a Frontier pickup truck, powered by a potent V-6. There is also a new, body-on-frame Pathfinder on the way.
Nissan is already in talks with BYD, but for a different reason. The two companies entered a partnership, through which they are pooling their 2025 CO2 emissions in Europe, in order to avoid penalties. Nissan’s financial situation is not great, but whether this leads to BYD taking the helm of the Japanese carmaker. I suspect the cultural factor will play a role against such an acquisition, as Japanese legacy carmakers have a tendency to stay independent, with Nissan being the only exception.
BYD was founded in 1995, but started manufacturing vehicles in 2003. The company has come a long way from making cheap copies of popular European models to a fully-fledged, in-house production and strategic partnerships with global carmakers. In 2025, the company achieved a milestone - over 4.54 million “New Energy Vehicles” were cumulatively sold.
Each of the Top 10 car companies has a presence in North America, so acquiring one of them would be effectively “inviting” the largest Chinese carmaker into the US. Feel free to share in the comments below, which company is most likely to be acquired by BYD. What do you think of Chinese automakers? Do you think they are still the laughing stock of the industry or are they worthy rivals to legacy carmakers?
Image source: BYD UAE, BYD USA
About the author
Dimitar Angelov has been an automotive journalist since 2014. His passion for cars and motorcycles led him to take up classic car restoration at the Classic Car Museum in Malta. While living there, he also graduated with a Master's in Media and Communications. Aside from Torquenews, his work can also be seen on Topspeed.com, HotCars.com, Motorheads.com, Jalopnik.com, and his own website, Ridereverie.com, where he also includes motorcycle content.
Other relevant experiences in the automotive scene include working at a Toyota dealership, professional driving, and automotive insurance. Dim is happy to get behind the wheel of any car and share his impressions. You can follow Dimitar on X, LinkedIn, Instagram, and Facebook.
Experience
- 2012-2017 and 2025-Present: Insurance Advisor - ANG Univers and Generali Insurance Group
- 2016-2016: Car salesman at Toyota dealership
- 2014-Present: Automotive journalist, blogger, vlogger, test driver
Education
- Bachelor's degree in International Economic Relations
- Master's degree in Marketing
- Master's degree in Media and Communications
Dimitar Angelov has been quoted in the following publications:
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