BYD Hits 2 Million Plug-in Vehicle Sales!

Chinese emerging auto giant BYD has just surpassed 2 million cumulative sales of plug-in vehicles. Its a huge milestone that is hard to comprehend– 2 million is a lot of vehicles considering the fact that other NEV makers from China such as XPeng and NIO just celebrated reaching 200,000 cumulative EV sales!

Related: BYD This Year Outsells Top 4 EV Rivals Combined

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BYD and Tesla have grown their EV production and sales almost in tandem for the past decade. Currently, they are neck to neck in global plug-in sales in 2022 — Tesla in the winning position one month, then BYD taking the number one slot in the next. At the moment, BYD is leading in cumulative 2022 sales. Importantly, BYD’s plug-in vehicle sales are ballooning at an astounding pace. Unlike Tesla, which sells vehicles around the world, BYD is basically getting the bulk of its sales from Chinese market and has just entered some right hand drive markets such as Europe, Australia and Thailand.

Back in its home market, BYD now has 4 of the auto industry’s 10 top selling vehicle models! That’s not 4 out of the top 10 plug-in vehicle models, but 4 out of the overall auto market’s top 10 best selling models — across all powertrains. In April, within the plug-in vehicle market alone, BYD had 7 out of the top 10 best sellers!

In May 2022, BYD sold 114,183 electric vehicles. Extrapolating out 12 months, that would be 1.37 million electric or plug-in vehicles a year. So, BYD should reach 3 million cumulative plug-in vehicle sales before the end of 2022.

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Related: BYD Jumps Ahead of Tesla in Battery Metal Push

Looking at its unstoppable pace, BYD will likely hit 4 million plug-in vehicles sales much quicker than it took the company to get to 2 million sales. BYD is currently the third most valuable automaker globally, only behind Tesla and Toyota. The automaker will soon begin supplying batteries to Tesla and is helping Toyota build its first electric sedan that will go on sale in the Chinese market soon.

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