BYD Co. (BYDDY, BYDDF) has achieved a major milestone in its electric vehicle journey, producing its 9 millionth new energy vehicle (NEV). The company announced this landmark achievement on Wednesday, showcasing its rapid growth and ambition in the global EV market.
The 9 millionth NEV to roll off the production line was a striking red Yangwang U9, a supercar produced by BYD under its luxury car brand Yangwang. Priced at 1.68 million yuan (approximately $0.24 million), the Yangwang U9 symbolizes BYD’s foray into the premium segment of the EV market, emphasizing the company’s commitment to offering advanced and luxurious vehicles.
BYD’s remarkable achievement comes just two months after hitting the 8 million NEV mark, demonstrating its impressive production capacity and increasing market share. The selection of the Yangwang U9 for this milestone signifies BYD’s dedication to pushing the boundaries of EV performance and luxury.
In the first eight months of 2023, BYD sold a total of 2,328,449 NEVs, including both passenger and commercial vehicles, representing a substantial increase of nearly 30% compared to the same period last year. This strong performance underscores BYD’s position as a major player in the global EV market.
In the last quarter of 2023, BYD surpassed American EV giant Tesla Inc. in battery electric vehicle (BEV) sales, selling 526,409 BEVs compared to Tesla’s 484,507 EVs. However, Tesla reclaimed the top spot in the first quarter of 2024.
BYD’s continued growth and its focus on luxury and performance segments solidify its position as a major force in the global EV market. The company’s innovative approach and commitment to sustainability continue to drive its success as it expands its footprint and challenges established players like Tesla.
