BYD produces its 7 millionth plug in electric car, aiming for 10 million by year end

BYD  says it has produced its 7 millionth new energy vehicle (NEV) – comprising mostly full battery electric cars and also plug in hybrids – as it launches in dozens of new global markets and battles Tesla for the top ranking in EV sales.

The company announced on its official Weibo social media page that the 7 millionth NEV was a Denza N7 SUV, from its premium brand.

The milestone is a massive achievement from a car brand that is still not a household name in many parts of the world.

According to data collated by cnevpost, BYD produced its first NEV back in 2008. In May 2021, BYD produced its one-millionth NEV. 

Just over two years later in August 2023, BYD announced that it had produced its 5-millionth NEV.  Three months on from then in November, it announced the 6 millionth NEV which brings us to the milestone it celebrated this week, producing a total of 7 million NEVs.

Since it started producing NEVs over 15 years ago, BYD has gradually shifted to producing a large number of battery electric vehicles, specialising in the use of its LFP (lithium iron phosphate) blade battery.

The brand now covers various other brands including Denza which is a joint venture between BYD and Daimler, as well as its luxury brand, Yangwang.

In Australia, BYD has seen steady growth in 2022 and 2023 with over 14,000 sales of the Atto 3 electric SUV since it launched in late 2022. This model has seen soaring demand in the affordable electric SUV segment of the market.

Since then BYD has launched one of Australia’s most affordable electric cars, the BYD Dolphin, followed by a premium sedan, the BYD Seal.

This year, BYD plans to sell more NEVs into the Australian market, including an SUV and ute offerings likely to arrive before the end of the year.

It is now expected that the 10-millionth vehicle will likely roll off the production line by the end of the year, a rate of  production and deliveries that will cause many legacy automakers to reconsider their EV production plans if they are to stay competitive in years to come.