BYD has increased its production of electric vehicles: sales are taking off

The company reached a symbolic milestone in October with more than 500,000 vehicles sold in one month, marking its fifth consecutive monthly record after the excellent figures of last September.

BYD production increased

He Zhiqi, executive vice president of BYD, reveals on Weibo that the automaker increased its production capacity by nearly 200,000 units between August and October. The rise of the firm, who presented his Sealion 7 in Parisis accompanied by the recruitment of some 200,000 new employees.

Now all production sites are operating at full capacity. A performance that the manager describes as unprecedented. He Zhiqi commends the efforts of the production and procurement teams.

Sales figures reflect this spectacular breakthrough: BYD went from around 370,000 units sold in August to 502,657 vehicles in October. Over the first ten months of 2024, the company sold 3,250,532 new energy vehicles (NEV), an increase of 36.49% year-on-year. If this pace continues, the Chinese firm would reach around 4.3 million annual sales: a growth of 42% compared to 3.02 million in 2023!

Another notable element: the distribution of sales. Usually, 100% electric vehicles (BEV) and plug-in hybrid vehicles (PHEV) shared the market equally. But now, PHEVs are showing significantly higher growth.

Between January and October 2024, BYD sold 1,877,734 PHEVs (+62.23%) compared to 1,359,193 BEVs (+11.97%). This is a broader development in the Chinese market, where PHEV sales grew 78.11% in the first nine months of the year, compared to 17.79% for BEVs.