BYD hits milestone of 10 million NEVs produced

On Nov 18th, BYD hosted a ceremony to mark the rollout of its 10 millionth NEV produced and to celebrate its upcoming 30th anniversary. At the event, BYD founder and CEO Wang Chuanfu, reflected on the company's milestones over the past three decades.

The 10 millionth vehicle produced was the newly launched Denza Z9. The owner of this milestone vehicle is Feng Ji, the founder and CEO of Game Science and the producer of the hit game “Black Myth: Wukong”. BYD, earlier this year, entered into a partnership with Game Science to become the exclusive automotive brand partner for the game.

Initially focusing on rechargeable batteries, BYD quickly became the world's second-largest producer of rechargeable batteries in 1998. BYD became a key battery supplier for Motorola and Nokia in 2000, driving both revenue and reputation.

In 2003, BYD entered the automotive industry by acquiring Xi'an Qinchuan Automobile, initially focusing on fuel-powered vehicles. In 2004, BYD built its first car, called the 316, but was quickly canceled due to low interest from dealers. Its first self-developed production car, the BYD F3, launched in 2005, quickly gained consumer recognition and became the first Chinese model to sell over 10,000 units monthly.

BYD debuted its first electric vehicle, the F3e, in 2008, officially entering the NEV market. Fast-forward to 2020, BYD launched its Blade Battery, achieving breakthroughs in safety, range, and charging speed. The company also unveiled its hybrid DM platform the same year, further solidifying its NEV dominance.

BYD is uniquely vertically integrated with over 70% of its vehicle components being supplied by BYD. From moldings to production lines and equipment, BYD tightly controls its supply chain to reduce manufacturing costs and provide a competitive advantage in terms of profit margins. BYD also operates its own shipping service to export its cars.

BYD has grown into a global leader in the NEV industry, with additional operations in electronics, commercial and consumer vehicles, renewable energy, and rail transit. BYD holds a dominant position in the Chinese market and have rapidly expanded its operations to multiple countries and regions worldwide.