BYD sees 7 millionth NEV roll off assembly line

BYD saw its 7 millionth new energy vehicle (NEV) roll off the production line, marking another milestone in the company's history.

That 7 millionth vehicle is an updated version of the N7 SUV that BYD's premium brand Denza will officially launch on Apr 1, according to a Weibo post it made today.

2003 - BYD entered the automotive industry.

2008 - Sold its first NEV.

May 19, 2021 - Sold its 1 millionth NEV.

Aug 9, 2023 - Sold its 5 millionth NEV.

Nov 24, 2023 - Sold its 6 millionth NEV.

Apr 1, 2024 - Sold its 7 millionth NEV. Additional million in less than 6 months!

Earlier this month, Denza announced that it will officially launch the updated N7 on Apr 1. Show cars of the model became available on Mar 23 at Denza stores in 70 cities in China.

If we compare BYD with Tesla, it will turn out that the all-electric car sales increase at a similar rate. Tesla exceeded 5 million in late 2023 and is currently approaching 6 million EV sales (compared to about 3.5 million BYD). When including plug-in hybrids, BYD is at 7 million units.

In terms of cumulative plug-in car sales, BYD appears to be at a point where Toyota's hybrids were about a decade ago. The company sold its seven millionth hybrid in mid-2014 after almost 18 years since 1997 when the first Prius was launched. For BYD, 0-7 million took some 16 years (between 2008 and 2024).