BYD becomes world’s first automaker to produce 5 million EVs
Fast-growing Chinese vehicle manufacturer establishes itself a leading role in global electrification. While its e-buses ply in over 400 cities across 70 countries, its electric cars and SUVs are currently sold in over 54 countries including India.
August 10, 2023 was a milestone day for BYD, China’s and the world’s leading manufacturer of electric vehicles and power batteries. BYD rolled off its five millionth new energy vehicle (NEV), a Denza N7, yesterday, making it the first automaker in the world to achieve this milestone.
“Today marks a historic moment for BYD as we witness our five-millionth new energy vehicle rolls off the production line,” said Wang Chuanfu, chairman and president of the company, at the ceremony held at BYD’s global headquarters to celebrate the achievement. “On this special occasion, we would like to extend our sincere gratitude to our customers across the globe for their trust in our products, our partners in the industry for this journey shared together, and every one of our employees whose hard work and dedication have made this landmark possible.”
Wang Chuanfu, Chairman and President of BYD, at the 5-millionth EV rollout ceremony at the company headquarters. (Photo: Business Wire)
The green drive to the 5-million milestone
BYD as a company has been around since 1995 but not always as a car manufacturer. It began operations as a battery manufacturer, and supplying batteries for consumer electronics and EVs remains one of its core businesses. Somewhere along its journey, BYD diversified into electric cars and buses, as a result of which it has become a brand to be reckoned with.
BYD took 13 years to manufacture for the first million EVs, another 18 months to reach three million, and just 9 more months to hit the five-million mark. In 2022, BYD’s new energy vehicles saw remarkable growth, with total sales surpassing 1.86 million units.
The momentum continues in 2023, as the company reached an impressive cumulative sales volume of 1.5 million units from January to July, including a notable 92,469 units sold overseas which exceeded the total overseas sales for the entire year of 2022. As of July 2023, BYD’s cumulative global sales of new energy vehicle sales have soared beyond 4.8 million units.
As of July 2023, BYD’s cumulative global EV sales are over 4.8 million units, including buses and electric cars and SUVs like the Atto 3 also sold in India
BYD has been actively expanding its global presence since 2010, strategically introducing buses and taxis for public transit electrification. Since then, BYD’s electric public transport solutions are now operational in over 400 cities across more than 70 countries. Meanwhile, BYD’s electric cars are currently sold in over 54 countries including India. According to the company, its Atto 3 e-SUV, launched in India in November 2022, has been “leading NEV sales in Thailand, Israel and Singapore for several months”. In a significant move in July 2023, BYD announced plans to invest $620 million in three new factories in Brazil to build chassis for electric buses and trucks, passenger cars and battery materials.
Since its foundation in 1995, BYD has consistently driven technological advancements. Innovations like the Blade Battery, DM-i Super Hybrid System, e-Platform 3.0, CTB Technology, e4 Platform, and the DiSus Intelligent Body Control System, have set new standards in the industry and enhanced BYD’s standing in the electric vehicle market.
In 2022, BYD invested over RMB 20 billion in research and development, which was a 90.31% year-on-year increase. As of July 2023, fuelled by a team of more than 90,000 R&D professionals, BYD has filing for over 40,000 patents on a global scale, with more than 28,000 of these patents already approved.
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