BYD reported another record month for new energy vehicle (NEV) sales in July, driven by strong growth in plug-in hybrid electric vehicle (PHEV) sales.
The company sold 342,383 NEVs in July, surpassing its previous record in June. This marks a 30.60% increase from 262,161 units in the same period last year and a 0.21% rise from 341,658 units in June.
BYD ceased production and sales of vehicles powered solely by internal combustion engines in March 2022, shifting its focus to PHEVs and battery electric vehicles (BEVs). The company’s NEV lineup includes both passenger cars and commercial vehicles.
In July, BYD sold 340,799 passenger NEVs, a 30.52% increase year-on-year and a 0.17% rise from June. Commercial NEV sales reached 1,584 units, up 50% from the previous year and 9.47% from June.
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BYD sold 130,000 units of passenger BEVs in July, a 3.55% decrease from a year ago and a 10.46% drop from June. However, the company sold 210,799 passenger PHEVs in July, marking its fifth consecutive monthly record since March. This represents a 66.87% year-on-year increase and an 8.08% rise from June.
Additionally, BYD’s overseas sales reached 30,014 vehicles in July, up 65.19% year-on-year and 11.18% from June.
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As China’s largest NEV maker and the second-largest power battery manufacturer, BYD’s installed capacity of power and energy storage batteries totaled approximately 16.519 GWh in July, up 33.15% year-on-year and 2.6% from June.