BYD Passenger Car Sales

BYD is the largest single car manufacturer in China and, in 2022, sold more EVs than any other company in the world (1.86 million vehicles sold), though Tesla still holds the lead in terms of pure Battery Electric Vehicles ((BYD has since overtaken Tesla: learn more). BYD was originally in the consumer electronics industry, producing rechargeable batteries for cellphones and laptops, as well as other components like keypads, touchscreens, and chargers. It recognized the potential of EVs early and the usefulness of its experience in battery manufacturing, so it entered the automotive industry in 2003 with the founding of BYD Auto.

BYD is one of the automotive industry’s most experienced EV automakers: it launched the first mass-market Plug-In Hybrid Electric Vehicle (PHEV) in 2008 with the BYD F3DM. It began manufacturing the fully electric BYD e6 shortly after in 2009, releasing it to the general public in 2011. Since then, it has consistently been one of the largest EV manufacturers in China, with its domestic sales also making it among the largest in the world.

As the chart above depicts, BYD sells electric vehicles exclusively. The company last sold Internal Combust Engine (ICE) vehicles in 2Q 2022. New Energy Vehicle (NEV) sales for BYD are split pretty evenly between BEVs and PHEVs - 264,647 and 283,270 sales figures, respectively, in 1Q 2023.