BYD marked a remarkable achievement as its 5 millionth NEV rolled off the assembly line. The company’s two-decade-long commitment to the sector has yielded significant dividends, establishing it as a pioneer in the electric vehicle market.
In a ceremony held at its Shenzhen headquarters, BYD celebrated its distinction as the world’s first automaker to reach the 5 million NEV milestone. The occasion was graced by the presence of the Chinese NEV giant’s leadership and esteemed guests.
The noteworthy 5 millionth NEV, named the Denza N7 SUV, was introduced by BYD’s sub-brand Denza just last month. Renowned Chinese entrepreneur and speaker, Luo Zhenyu, is the proud owner of this exceptional vehicle. Notably, the presentation of the Denza N7 was personally undertaken by BYD’s Chairman and President, Wang Chuanfu, further emphasising the significance of this event.
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On August 9th, our 5 millionth new energy vehicle rolls off the production line, making us the first automaker globally to achieve this remarkable milestone.
It took 13 years to build our first million new energy vehicles. Eighteen months later, we reached three million NEVs.… pic.twitter.com/vYmBkSQhbX
— BYD (@BYDCompany) August 9, 2023
Denza, which originally started as a 50:50 collaboration between BYD and Mercedes-Benz, has evolved over time. Last year, BYD increased its stake to 90 percent, solidifying its position as the driving force behind the brand. The Denza N7, the second model launched post the restructuring of Denza’s ownership, made its debut on July 3, with deliveries commencing on July 29.
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BYD’s journey into the automotive industry began in 2003, and it achieved the milestone of selling its first NEV in 2008. At present, the company boasts an extensive portfolio of dozens of NEV models available to consumers.
Reflecting on its prior accomplishments, BYD’s trajectory of success includes hitting the one millionth NEV production mark on May 19, 2021, marking a historic moment in China’s NEV market. This achievement was reached 13 years after the company’s initial foray into NEVs.
BYD's 5 Millionth New Energy Vehicle Rolls Off the Production Line
Today, our footprint has extended to more than 54 countries and regions across the world.
We would like to express our heartfelt gratitude to everyone around the world, from our supportive customers to our… pic.twitter.com/SCH1Mh8C2V
— BYD (@BYDCompany) August 9, 2023
Subsequently, on November 16, 2022, BYD achieved the 3 millionth NEV production milestone, a feat achieved just 1.5 years after the 2 millionth NEV rolled off the assembly line. Impressively, BYD’s latest feat of producing 5 million NEVs occurred in under 9 months since reaching the 3 million mark.
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In a strategic move towards sustainability, BYD ceased the production of vehicles solely powered by internal combustion engines in March 2022. This pivot underscores the company’s commitment to prioritising pure electric vehicles and plug-in hybrids.
Recent data indicates BYD’s robust performance in the NEV market. In July of this year, BYD set a new record by selling 262,161 NEVs, propelling its total sales for the January-July period to over 1.5 million vehicles. This impressive figure represents half of the company’s annual target, according to data released earlier this month. It is pertinent to note that these sales figures reflect wholesale transactions.
BYD’s retail sales in July stood at 230,882 units, securing a commanding 36.0 percent share of China’s NEV market. This market dominance outpaces its closest contender, GAC Aion, whose market share stood at 7.0 percent. These insights are based on data released by the China Passenger Car Association (CPCA).
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For the January-July period, BYD’s retail sales aggregated to 1,385,455 units, establishing its unassailable leadership in China’s NEV market with a 37.2 percent share. This substantial market share comfortably eclipses the 8.7 percent share held by Tesla China, securing BYD’s place at the forefront of the sector, according to the CPCA.
The monumental accomplishment of producing 5 million NEVs reinforces BYD’s role as a trailblazer in the electric vehicle landscape, underscoring the company’s continued commitment to shaping the future of sustainable mobility.
