BYD Co. (OTC:BYDDY) (OTC:BYDDF) on Wednesday made its 9 millionth new energy vehicle (NEV) to date, the Chinese EV giant said.
What Happened: "MAJOR MILESTONE: BYD's 9 Millionth NEV Rolls Off Production," BYD wrote in a post on social media platform X. The post was adjoined by a picture of a red Yangwang U9, a supercar produced by the BYD under its luxury car brand Yangwang. The vehicle is priced at 1.68 million yuan ($0.24 million).
"The YANGWANG U9's selection for this milestone underscores BYD's advancement in luxury and performance segments," BYD said on Wednesday.
BYD made its 8 millionth NEV merely two months before in July.
MAJOR MILESTONE: BYD's 9 Millionth NEV Rolls Off Production
— BYD (@BYDCompany) September 25, 2024
This accomplishment comes just two months after BYD's 8 millionth NEV. The YANGWANG U9's selection for this milestone underscores BYD's advancement in luxury and performance segments.
BYD's rapid progress from 8 to 9... pic.twitter.com/OYJQHivJgU
Why It Matters: New energy vehicle refers to battery electric vehicles and plug-in hybrid vehicles. BYD sold 2,328,449 NEVs this year through the end of August, including both passenger and commercial vehicles, marking an increase of nearly 30% from the corresponding period last year.
In the last quarter of 2023, BYD took over American EV giant Tesla Inc. in battery electric vehicle sales with 526,409 BEVs sold as compared to Tesla's 484,507 EVs. However, Tesla took back the crown in the first quarter of 2024.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
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