China’s BYD Co, a leader in battery electric vehicles (BEVs) and plug-in hybrids, revealed a substantial increase in sales figures for 2023, reaching a milestone of approximately 3.02 million vehicles, signifying a remarkable surge of 61.9 percent from the previous year.
The automaker, headquartered in Shenzhen, disclosed that it achieved sales of approximately 1.6 million battery electric vehicles (EVs) alongside about 1.4 million plug-in hybrid EVs, underscoring its dominance in both categories within the electric vehicle market.
December marked a particularly robust performance for BYD, with a reported sale of 340,178 battery and hybrid EVs, out of which 190,754 were all-electric vehicles, showcasing sustained momentum in the company’s year-end sales.
The oversea sales volume of New Energy Passenger Vehicle achieved 36,095 units for the month of December 2023, BYD said in a news statement.
The installed capacity of NEV power battery and energy storage battery for the month of December 2023 was approximately 17.746 GWh. The cumulative installed capacity for the year 2023 was approximately 150.909 GWh.
This notable sales surge follows BYD’s announcement in the previous year regarding its intentions to establish a manufacturing facility in Hungary, a move aimed at bolstering its production capabilities and meeting the escalating demand for electric vehicles in global markets.