Chinese electric vehicle and power battery giant BYD is on track to successfully produce its five millionth new energy vehicle (NEV) on August 9 since transitioning from its conventional car business in early 2022.
As per BYD’s Weibo announcement, the automaker will release the jubilee mode from the manufacturing line on Wednesday.
“Countdown to 3 days. On August 9, you are invited to witness BYD’s 5 millionth NEV roll off the line.”
BYD poster
BYD’s progress in the NEV industry
The BYD brand initially launched in 2003, selling its first-ever NEV model in 2008. As of now, the automaker offers multiple zero-emission vehicles, including battery-powered and plug-in hybrids.
The Chinese automaker officially halted the production of its internal combustion engine-powered vehicles in March 2022 to fully support the sustainable mobility movement.
It hit the 1 million NEV production threshold on May 19, 2021, advancing its position as the country’s industry leader. It produced its three millionth NEV on November 16 last year.
Unfortunately, BYD did not disclose the achievement of its two millionth and four millionth NEV production milestones.
It is worth noting that BYD targets at least 3 million unit sales in 2023, BYD Chairman Wang Chuanfu announced in March 2022.
It would be unsurprising if BYD actually reached this 3 million sales target, considering the aid of its owned brands. It includes the luxury brand Yangwang, Denza, and Fang Cheng Bao.
BYD’s automotive brands
BYD’s Yangwang recently launched its new U8 model on April 18, with an RMB 1.098 million pre-sale price. The model has two variants: Premium Edition and Off-road Master Edition. The Premium Edition will hit the market this month, with deliveries starting in September.
Meanwhile, Denza released its new N8 model on Saturday after just a month of launching the N7 model. It also now offers the D9 MPV for Chinese customers.
In addition, BYD introduced its latest brand Fang Cheng Bao in early June 2023, with plans to name its first-ever model “Leopard 5.” Unfortunately, the automaker has yet to disclose the model’s production and launch date.
See Also:
- BYD’s Denza brand announces plans to release new SUV N8 in early August
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- China EV battery deployment surged 89.4% in April, BYD overthrows CATL in the LFP market
BYD’s strong position in its home market is unsurprising, given its aggressive and strategic efforts to expand its NEV business. It has been developing and offering innovative, affordable models that suit Chinese customers’ preferences.
