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In 2024, China's BYD Group generated almost *** billion yuan in sales revenue from new energy passenger vehicles, representing an increase of ** percent from the previous year. In that year, BYD's sales revenue from new energy commercial vehicles was about *** billion yuan.

Demand for China’s new energy vehicles surged

New energy vehicle sales in China reached a record high, with about *** million battery electric vehicles and ** plug-in hybrid electric vehicles sold in 2021. In addition, China’s exports of new energy vehicles in 2021 surged *** times over the previous year to approximately ** units. Europe was China’s largest trading partner for new energy vehicles that year, with about **new energy vehicles exported from China to Europe.

BYD leads in new energy passenger cars

BYD has long been the best-selling new energy passenger vehicle brand in China. The company focuses on new energy passenger car production and has ceased manufacturing purely gasoline-powered vehicles since March 2022. By April 2022, the cumulative sales of BYD’s new energy passenger vehicle series reached approximately **** million units, of which the ‘Song’ series sold **** million units, and ‘Qin’ series sales were around ** units.