5 million NEVs and counting for BYD

BYD is just getting started in the Philippine market with its all-electric vehicle offering. But on a global scale, the Chinese manufacturer is a giant when it comes to new energy vehicles (NEVs) such as hybrids and battery electric vehicles.

Need proof? Chairman Wang Chanfu has announced BYD has reached a milestone of 5 million NEVs produced, becoming the world's first automaker to do so.

BYD is world's first automaker to produce 5 million electrified vehicles image

Their 5 millionth NEV is the BYD Denza N7 – a fully electric vehicle that has a highly advanced electronic architecture and LIDAR technology for its intelligent safety systems.

BYD's first NEV model was unveiled in 2008, and it took 13 years for the company to reach the million mark. Since then, BYD's production of NEVs rapidly expanded on a global scale, reaching 3 million sales after just 18 months. Exponential growth followed soon after as it only took 9 months for BYD to reach the 5 million NEV milestone, building 2 million units at an average rate of 7,407 cars per day.

BYD is world's first automaker to produce 5 million electrified vehicles image

Last year, BYD stopped producing pure internal combustion engine models. That's where their NEV sales skyrocketed as they reached 1.86 million units sold in 2022.

Currently, BYD has 9 manufacturing bases in China that have a total annual production capacity of 1.95 million units. That does not stop there as BYD already started building a factory in Thailand that can produce 150,000 units a year. European plants and three new factories in Brazil are also in the pipeline.

Chairman Wang also shared the ups and downs of BYD’s journey throughout the years and emphasized how the company’s plug-in hybrid technology initially faced skepticism, but is now accepted in the mainstream vehicle segment.

With BYD doing a gigantic push for electrified vehicles, we won't be surprised if we see more and more vehicles with the BYD badge out on the road pretty soon. But of course, that will largely depend on how BYD's local distributor handles vital factors such as pricing, and most especially, after-sales service.

Source: theevreport