BYD celebrates 10 million electrified vehicles milestone
The Chinese automotive powerhouse BYD has just hit a remarkable milestone, rolling its 10 millionth new energy vehicle (NEV) off the production line. This achievement highlights BYD's meteoric rise from a small battery producer in 1995 to a global leader in the electric vehicle market.
The landmark vehicle, a Denza Z9 sedan, was officially launched at the 2024 Guangzhou auto show and 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 plans to use BYD technology to digitally preserve cultural relics.
The Denza Z9 comes in both plug-in hybrid (PHEV) and battery-electric (BEV) versions. It has a starting price of RMB 334,800 (approximately $46,270), and it features BYD's e3 technology - a slightly scaled-down version of their e⁴ technology designed for luxury vehicles. The e3 system is built on the Xuanji architecture. The tri-motor independent drive system and dual-motor independent steering for the rear wheels provide impressive performance and handling. Deliveries of the Z9 are expected to begin in early December.
BYD's journey began in 1995 with just 20 employees. Today, it has a workforce of over 900,000, including 110,000 dedicated to research and development. The company's entry into the automotive industry started in 2003 with the acquisition of Qinchuan. After an initial setback with their first car model, the 316, BYD found success with the F3 in 2005, selling 100,000 units in just 14 months. This early success fueled BYD's ambition, leading to the development of their pioneering plug-in hybrid technology and the launch of the first-generation DM hybrid platform in 2008.
BYD launched the fourth-generation DM platform in 2021, with both performance-oriented (DM-p) and efficiency-focused (DM-i) options. This year, the company introduced the fifth-generation DM platform, offering even better fuel efficiency. This relentless pursuit of technological advancement has propelled BYD's growth from selling less than 30,000 vehicles per month just four years ago to over 500,000 units per month today.
In 2021, BYD became the first Chinese automaker to produce one million NEVs. The company decided to cease production of internal combustion engine vehicles in 2022, focusing solely on PHEVs and BEVs. BYD's NEV sales continue to grow, reaching 3.25 million units in the first ten months of 2024, a 36.49% year-on-year increase. Industry analysts predict BYD's global deliveries will reach 6 million vehicles by 2026, with a significant portion coming from overseas markets.
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