BYD celebrates the production of 10 million electrified vehicles - a journey of 30 years from batteries to market leader

The Chinese automotive giant BYD has reached a significant milestone by producing its 10 millionth new energy vehicle (NEV). This category includes electric vehicles and hybrids. This remarkable achievement highlights the company’s evolution from a small battery manufacturer established in 1995 to a global leader in the electric vehicle market within less than 30 years.

The milestone vehicle is the Denza Z9 sedan, officially unveiled at the Guangzhou Auto Show in 2024. It was handed over to Feng Ji, the CEO of Game Science, the company behind the popular video game Black Myth: Wukong. The partnership between BYD and Game Science aims to utilize BYD’s technology for the digital preservation of cultural artifacts.

The Denza Z9 is available in both plug-in hybrid and all-electric versions, with a starting price of approximately €41,700. It features BYD's e³ technology, a simplified version of their premium e⁴ platform built on the Xuanji architecture. The vehicle boasts three independent drive motors and a two-motor rear-wheel steering system, ensuring high performance and maneuverability. Initial deliveries are expected in early December.

BYD's Success Story

BYD's journey began in 1995 with a team of just 20 employees. Today, the company has over 900,000 employees, including 110,000 dedicated to research and development. In 2003, BYD entered the automotive industry by acquiring Qinchuan. After initial setbacks with the model 316, the company found success with the F3 model in 2005, selling 100,000 units within 14 months. This breakthrough encouraged BYD to continue developing innovative hybrid technologies, leading to the launch of its first DM platform in 2008.

In 2021, BYD introduced the fourth generation of the DM platform, featuring performance-oriented (DM-p) and efficiency-focused (DM-i) variants. This year, the fifth generation of the DM platform was launched, further enhancing efficiency. Over the past four years, the company's sales have surged from fewer than 30,000 vehicles per month to more than 500,000 units today.

Achievements and Future Outlook

In 2021, BYD became the first Chinese automaker to produce 1 million NEVs. In 2022, the company ceased production of internal combustion engine vehicles, focusing exclusively on plug-in hybrids and electric cars. NEV sales continue to grow, reaching 3.25 million units in the first ten months of 2024, an increase of 36.49% from the previous year. Analysts predict that by 2026, BYD's global deliveries will hit 6 million vehicles, with a significant portion targeted at international markets.

Source: arenaev