BYD Set to Celebrate the Production of its 5 Millionth NEV on August 9

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BYD (OTCMKTS: BYDDY), a prominent player in the Chinese new energy vehicle (NEV) industry, is gearing up for a remarkable feat next Wednesday. After making a strategic shift away from traditional fuel-car business last year, the NEV giant is set to witness the production of its 5 millionth NEV on August 9, as revealed in a Weibo post.

BYD Set to Celebrate the Production of its 5 Millionth NEV on August 9 - Car News - 1

(Image: BYD Han)

“Countdown to 3 days. On August 9, you are invited to witness BYD’s 5 millionth NEV roll off the line,” reads the announcement poster.

BYD’s journey in the auto industry began in 2003, and it marked its first NEV sale in 2008. Since then, the company has expanded its NEV portfolio, offering a diverse range of dozens of NEV models.

In March 2022, BYD took a significant step by discontinuing the production of vehicles solely powered by internal combustion engines, redirecting its focus entirely towards pure electric vehicles and plug-in hybrids.

BYD made history on May 19, 2021, as the first Chinese automaker to surpass the milestone of one million NEV sales.

Subsequently, on November 16, 2022, BYD celebrated the production of its 3 millionth NEV, an all-electric model named Seal.

Although the company did not publicly disclose the dates for the production of its 2 millionth and 4 millionth NEVs, its continued growth and market presence are evident in its rapid achievements.

BYD has set ambitious goals for the future, with the aim of selling at least 3 million vehicles this year, and striving to reach 3.6 million, as stated by the company’s Chairman and President, Wang Chuanfu, in late March this year.

The automotive brands under BYD Group’s umbrella include the premium Yangwang, Denza, and Fang Cheng Bao, in addition to BYD itself. Currently, BYD offers both the BYD Seagull, starting at just 73,800 yuan ($10,300), and the Yangwang U8, with a pre-sale price of RMB 1.098 million.

In its continuous pursuit of excellence, Yangwang commenced pre-sales of the U8 on April 18, with the Premium Edition set for launch in August and deliveries expected to begin in September.

Recently, Denza joined the fray, launching its new SUV, the Denza N8, only a month after the debut of the Denza N7. In addition to these models, Denza also boasts the Denza D9 MPV, a part of its offering.

BYD’s commitment to innovation and expansion is evident in its latest brand announcement. On June 9, the company officially unveiled the name of its new brand, Fang Cheng Bao, and revealed the model’s name, the Leopard 5, on July 4, without specifying the launch date.

Reflecting its dedication to providing a compelling customer experience, BYD opened its first brand experience center in Wuhan, Hubei province on May 20. The showroom spans five floors, occupying a total area of 6,550 square meters, featuring brand display, model display, technology exhibition, and user activity spaces, showcasing different brands under one roof.