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EV-a2z > News > BYD hits 7 millionth NEV production milestone, aims for 10 million by 2024
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BYD hits 7 millionth NEV production milestone, aims for 10 million by 2024

EV-a2zm
Last updated: 2024/03/27 at 12:17 AM
EV-a2zm Published March 26, 2024 3 Min Read
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Chinese electric vehicle giant BYD announced another major milestone in its new energy vehicle (NEV) manufacturing business. According to the company’s Weibo announcement, the 7 millionth car rolled off the production line on March 25.

Contents
BYD builds its 7 millionth NEVProduction progressMoving forward

BYD is celebrating a huge milestone as the world’s first automaker to roll off its 7 millionth NEV, an all-new DENZA N7.

Stay tuned as BYD continues to lead the charge toward green mobility.#BYD #BuildYourDreams pic.twitter.com/HDLOZJ0vol

— BYD Global (@BYDGlobal) March 25, 2024

For context, NEV includes battery-electric (BEV), plug-in hybrid (PHEV), and fuel cell electric (FCEV) vehicles.

BYD builds its 7 millionth NEV

BYD proudly announced on Monday the successful production of its 7 millionth NEV, enabling it to advance as the first automaker in the world to achieve this milestone.

‼️ News: BYD celebrates 7 million new energy vehicle (NEV) production milestone …

As noted by the Chinese automaker in a post on Weibo, its 7 millionth NEV is an N7 SUV from the company’s premium sub-brand Denza. Denza was established as a joint venture between BYD and Daimler… pic.twitter.com/g2oxSkjPpE

— Brian Basson (@BassonBrain) March 25, 2024

According to the announcement, the Jubilee model is apparently an updated version of the Denza N7 electric SUV from its premium brand. Denza plans to officially launch this new version on April 1.

It is indeed a significant feat, considering that BYD has yet to become a popular brand in many other markets in the world.

Production progress

According to CnEVPost, BYD officially became an automaker in 2003. However, it only sold its first-ever NEV model in 2008.

On May 19, 2021, BYD achieved its one millionth NEV production milestone with the Han EV. Its 5 millionth NEV production followed on August 9, 2023, which was also a Denza N7.

BYD’s 5 millionth NEV will be rolling off assembly line at 7:30pm on 8/9/2023. It’ll be the 1st NEV maker worldwide to reach that milestone. pic.twitter.com/V59Tzv7vJs

— Ray (@ray4tesla) August 9, 2023

It produced its 6 millionth NEV, the Bao 5, on November 24, 2023. Notably, this model is under its personalized brand, Fang Cheng Bao.

Since BYD started producing NEVs more than 15 years ago, it has gradually pivoted to large-scale BEV production and specialized in LFP Blade batteries.

Moving forward

BYD currently owns multiple units, including its main brand, BYD Auto, and premium sub-brands Denza, Fang Cheng Bao, and Yangwang.

This year, BYD aims to sell more NEV models across its brands to challenge American electric vehicle giant Tesla. 

By the end of 2024, BYD expects to achieve the 10 millionth vehicle production milestone. This production rate will undoubtedly prompt many legacy automakers to reconsider their EV production plans if they want to stay in the market.

In order to achieve this ambitious target, BYD plans to expand and solidify the localization strategies for its products, technologies, and brand presence globally.

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TAGGED: BYD, Denza, Denza N7, Electric Vehicle, EV, NEV
EV-a2zm March 27, 2024 March 27, 2024
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