Milestone: One Company, 10 Million E-Vehicles!

The Chinese multinational manufacturing company BYD has produced its ten millionth new energy vehicle (NEV), the world’s first in the automotive industry, and is expanding its production outside China.

BYD increased its NEV production tenfold in just three years, and the giant automaker is now closing in on international powerhouses like Ford, breaking sales records month after month.

Battery electric (EV) and plug-in hybrid (PHEV)  are collectively known as NEV. Through the first ten months of 2024. 3.25 NEVs were sold, with 1.36 million of them all-electric, a 36% increase from last year. In October only, the automotive company sold more than 500,000 vehicles. In 2023, BYD introduced the Qin Plus Champion Edition – a PHEV model – priced at $13,900. The company is mainly known for its ultra-affordable EVs that cost less than $10,000. Its lineup rapidly expands to include new luxury models, smart midsize SUVs, and electric supercars. BYD recently opened a manufacturing plant in Thailand, and facilities will soon open in Brazil, Hungary, Mexico, Pakistan, and Turkey.