Yes, you read that correctly. Nine million new energy vehicles (NEVs) built. Chinese automaker Build Your Dreams (BYD) continues to gain momentum as a globally recognized brand, having built three million NEVs in the past three months, bringing its cumulative total to nine million.
We’ve said it plenty of times, but we’ll say it again—if you haven’t heard of BYD yet, you will. The Chinese multinational manufacturing conglomerate spearheaded by BYD Auto is approaching its 30th anniversary, but it’s the company’s strides in New Energy Vehicles in recent years that have truly put it on the global map.
The automaker has been expanding to new markets outside of China and recently claimed the top spot as the world’s largest automaker by R&D workforce. Back in its native China, BYD continues to deliver some of the best-selling models, including the ultra-affordable Seagull BEV.
Production appears to be keeping up with BYD’s rapid expansion as well. In May 2021, the automaker produced its one-millionth NEV, then tripled that number a mere 18 months later. Nine months after that, BYD celebrated its five millionth NEV build.
This past March, the automaker celebrated its seven millionth build, followed by a record sales month in July that included 342,000 units. By August, BYD had surpassed the one million sales mark for 2024 with no signs of slowing down.
Today, BYD is celebrating its latest production milestone, reaching nine million NEV builds by rolling a 1,200 hp Yangwang U9 hypercar off its assembly lines in China.
BYD has quickly become a powerhouse in NEV production
BYD celebrated its nine millionth NEV build in style with its ultra-sleek (and super-fast) Yangwang U9. The two-seat electric supercar starts at a price of RMB 1.68 million ($238,930) – currently the most expensive model in BYD’s lineup.
Of the nine million builds to date, BYD says one million came in the last three months alone, having built a Dolphin EV at its Thailand plant as its eight millionth build on July 4. Such quick output clearly showcases a bolstering of production in toe with its growing staff, portfolio, and markets it is selling in.
From January to August 2024, BYD reports selling 2,328,449 NEVs, a 29.92% year-over-year increase. While BYD continues to grow in size and brand recognition, the Chinese automaker still has not shared any plans to enter the US. Instead, it is working on a massive production facility in Mexico and previously shared intentions to begin selling its EVs in Canada. However, that was before our neighbors to the North matched the Biden administration’s 100% tariff on Chinese vehicle imports.
Still, BYD has been staring down the barrel of tariffs in the EU, yet is still finding success in its markets despite lower profits from the higher levies. While it gears up for North American market entry (sans the US), BYD continues to bolster its fleet of car carrier ships for international markets.
On the EV battery front, BYD is also gaining ground on CATL – the global leader in the segment for seven years running. BYD is one of the most exciting NEV automakers to watch right now, and I’m sure Electrek will follow up with more news surrounding the brand and its all-electric marques soon. Stay tuned.
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