BYD hits 5-million-unit production milestone for new energy vehicles

Shanghai (Gasgoo)- On August 9, BYD, a trailblazer in the new energy vehicle (NEV) sector, celebrated a momentous achievement as its 5 millionth NEV rolled off the assembly line, making it the first automaker in the world to hit the milestone. This accomplishment not only underscores BYD's progress but also stands as a testament to the upward trajectory of Chinese auto brands.

In the ceremony, Wang Chuanfu, BYD's Chairman and President, handed over the significant vehicle, a DENZA N7, to Luo Zhenyu, the keynote speaker of the "Friend of Time" New Year’s eve speech and the founder of Dedao, a lifelong learning platform.

Photo credit: BYD

As a pioneer in the NEV sector, BYD has traversed a two-decade-long journey of steadfast dedication, overcoming initial skepticism and opposition, said the company. It delved into the uncharted territory of new energy vehicles, embracing technological innovation. With eleven research institutes, over 90,000 R&D personnel, and a cumulative R&D investment exceeding a hundred billion, BYD has consistently demonstrated its commitment to cutting-edge technologies. The company now files an average of 19 patent applications each working day, with 15 patents granted. It has introduced groundbreaking technologies such as Blade Battery, DM-i Super Hybrid System, e-Platform 3.0, CTB Technology, e4 Platform, and the DiSus Intelligent Body Control System, catalyzing ongoing transformation within the new energy vehicle industry.

Wang Chuanfu asserted that the trend towards new energy vehicles is irreversible, predicting that by 2025, new energy vehicles will penetrate over 60% of the Chinese market, and domestic brands will capture 70% of the market share, heralding an era of significant advancement. He also expressed confidence in China's ability to foster a bunch of globally respected automotive brands, underlining China's prowess and potential in the automotive sector.

Reflecting on BYD's history, from the debut of its first F3 DM model in 2008 to the milestone of producing its one millionth new energy vehicle in May 2021, the company invested 13 years. However, the leap from one to three million units was achieved within just a year and a half, between 2021 and November 2022. Remarkably, the journey from the third to fifth million units was covered in a mere nine months, showcasing the remarkable agility and speed that defines BYD and the Chinese automotive industry.