Chinese electric vehicle giant BYD reported sales of 382,476 new energy vehicles (NEVs) in May, marking a 15.27% increase compared with the same period last year and a modest 0.63% rise from April, according to data released by the company on Sunday.
The May figures reflect stable domestic demand and rapid expansion abroad, as BYD continues its transition away from internal combustion engine (ICE) vehicles. The company halted production of ICE-only models in March 2022 and has since focused exclusively on battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
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Passenger NEV sales accounted for the vast majority of the total, with 376,930 units delivered, up 14.05% year-on-year and 1.16% from the previous month. Commercial NEV sales reached 5,546 units, representing a 317.31% increase from a year earlier, though down 25.80% from April.
Within the passenger NEV segment, BEVs continued to gain traction. BYD sold 204,369 BEVs in May, a 39.60% increase year-on-year and a 4.41% month-on-month rise. In contrast, sales of passenger PHEVs fell for the second consecutive month to 172,561 units, down 6.26% from the same period last year and 2.44% from April. The shift marks a notable trend as Chinese consumers increasingly favor fully electric models amid greater EV infrastructure and improving battery technology.
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International sales remained a bright spot for BYD. The company delivered 89,047 NEVs overseas in May, a record high for the sixth consecutive month. This represents a 137.46% surge compared with a year ago and a 12.60% increase from April. The figures underscore BYD’s growing global footprint, as it ramps up exports to Europe, Southeast Asia, Latin America, and other emerging markets. “Overseas performance continues to be a key driver in our growth strategy,” BYD said in a statement.
In addition to its core vehicle business, BYD is also expanding its role in the energy storage and battery sector. The company reported 28.476 GWh of installed capacity for its power battery and energy storage products in May, up 101.12% year-on-year and 7.55% from the previous month. BYD is currently the second-largest battery supplier in China, behind CATL.
