- After Chinese automaker BYD passed the milestone of 9 million EVs built in September, the company has already reached the impressive 10 million mark, just two months later.
- The 10 millionth NEV to be delivered was a DENZA D9, making BYD the first manufacturer to reach 10 million NEVs sold – with NEV being a BYD classification, encompassing both fully-electric vehicles and plug-in hybrid vehicles, the only two types sold by the manufacturer.
- The news comes as BYD continues to expand its EV portfolio internationally.
BYD hits another crucial milestone
This growth is particularly impressive, when you consider that it took the firm 15 years to produce its first 5 million NEVs, with the next 5 million arriving in only 15 months – evidencing the increasing demand for EVs, worldwide. It also comes just two months after the manufacturer reached 9 million NEVs produced.
The achievement is one of several wins for BYD lately. Recent figures show that it managed to shift 1.13 million NEVs in the third quarter of 2024 alone. That’s 40,000 more than Ford sold across all fuel types, and at the current rate, BYD could beat Ford for overall car shipments by the end of the year. This is the type of growth the manufacturer will need to keep up, if it is to hit its goal of 50% overseas sales by 2030.
Europe continues to be a key growth spot for BYD, with it recently hiring ex-Stellantis UK MD, Maria Grazia Davino, to help push mainland European expansion. Plus, with the manufacturer set to open a car facility in Hungary, it should be able to continue selling within the EU without additional tariffs being imposed.
On the announcement, BYD also revealed a roadmap for how it plans to continue driving demand into the future. This will include an investment worth 100 billion yuan ($13.81 billion), to develop an integration of artificial intelligence into its automotive systems – which it says will help provide ‘comprehensive upgrades’ of its whole vehicle lineup, helping it maintain a ‘competitive edge in the global market’.
