BYD is on track to achieve a momentous milestone next Wednesday. Having made the strategic decision to divest its traditional fuel-car business in early 2022, the company is expected to celebrate the roll-off of its 5 millionth NEV on August 9.
The company ventured into the automotive industry back in 2003 and took its first step into the NEV market in 2008, gradually expanding its lineup to include dozens of models currently available for purchase.
In March 2022, BYD made a significant move by ceasing the production of vehicles powered solely by internal combustion engines, choosing to focus solely on the production of pure electric vehicles and plug-in hybrids.
BYD announces that 5 millionth NEV will roll off production line on 08/09
1 millionth came on 2021/05/19
3 millionth came on 2022/11/16
Pace should continue to quicken as BYD surpasses 300k/month in production
BYD has many new models planned pic.twitter.com/k1p9nYYp3O
— tphuang (@tphuang) August 6, 2023
The breakthrough came for BYD on May 19, 2021, when it marked the production of its one millionth NEV, a remarkable feat that made it the first Chinese automaker to surpass this historic sales threshold in the NEV sector.
Continuing its strong growth trajectory, BYD witnessed the roll-off of its 3 millionth NEV, an all-electric Seal, on November 16, 2022, underscoring its firm position as a prominent player in the NEV market.
While the company did not make any formal announcements regarding the production of its 2 millionth and 4 millionth NEVs, it remained committed to achieving even higher goals. As stated by Wang Chuanfu, BYD’s chairman, and president in late March this year, the company aims to sell at least 3 million vehicles in the current year, with a stretch target of reaching 3.6 million units.
BYD Group’s automotive portfolio includes a range of brands, such as the premium Yangwang, Denza, and Fang Cheng Bao, alongside its flagship BYD brand. Among the most popular offerings are the BYD Seagull, priced at just 73,800 yuan ($10,300), and the Yangwang U8, which has already garnered pre-sale interest at RMB 1.098 million.
