China’s BYD said it has produced its 15 millionth new energy vehicle (NEV), underscoring the pace of growth at the world’s largest NEV maker as it continues to expand at home and overseas.
The company announced the milestone on Wednesday, saying the vehicle was a Denza N8L sport utility vehicle, a plug-in hybrid model under BYD’s premium Denza brand. The unit was also the 15,000th Denza N8L produced, BYD said.
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The N8L is a large, six-seat plug-in hybrid electric vehicle (PHEV) aimed at the family car segment, with a focus on safety, comfort and handling. The model was launched on Oct. 28 with a starting price of RMB 299,800 ($42,570), placing it among BYD Group’s higher-end offerings.
BYD reached the 15 million NEV milestone 13 months after producing its 10 millionth unit, highlighting the company’s accelerating production scale. From January to November this year, BYD sold 4.18 million vehicles, an increase of 11.3% year-on-year.
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Founded in 1995 as a battery manufacturer, BYD entered the automotive sector in 2003 after acquiring Qinchuan Automobile in Xi’an. The company produced its first NEV in 2008 and became China’s first automaker to roll out one million NEVs in May 2021.
As NEV sales surged, BYD stopped producing vehicles powered solely by internal combustion engines in March 2022, shifting entirely to battery electric vehicles (BEVs) and plug-in hybrids. In November 2024, the company marked its 10 millionth NEV with the rollout of a Denza Z9 sedan.
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BYD has also been expanding its manufacturing footprint overseas. The company said its 14 millionth NEV rolled off the assembly line at its Brazilian plant in October, as it ramps up international production to support global sales.
BYD employs more than 900,000 people, including nearly 110,000 in research and development, and continues to leverage its battery technology roots as it competes in increasingly crowded global EV markets.
