BYD sold 161% more EVs in China than same time last year, entering new markets with growth momentum
Chinese automaker Build Your Dreams (BYD) continues to stake its case for worldwide attention as it reports tremendous year-over-year EV sales growth for yet another consecutive month. When looking at the company’s growth since 2020 and its recent expansion into new markets outside of China, BYD should be on your radar as a contender to become a globally recognized EV brand.
BYD Auto is an automotive subsidiary of BYD Co. Ltd. currently operating as one of the largest auto manufacturers in China. In 2021 alone, BYD produced over 320,000 BEVs, second in the country to only SAIC Motor.
As an EV automaker, BYD Auto has been delivering vehicles since 2008 when it launched a plug-in hybrid version of its F3 sedan. More recently, however, BYD officially nixed all combustion vehicle production and remains a solely electric brand.
Although the company has found success selling EVs in China, it has only recently begun to expand its sales reach in recent years. BYD has recently announced plans to sell passenger EVs in a bunch of countries throughout Europe. (More on that below).
Today, BYD has shared another successful month of EV sales growth that is already beginning to translate to its new markets overseas.
BYD’s EV sales continue to climb alongside its global reach
As pointed out and translated by CnEVPost, BYD shared its most recent EV sales numbers for September in an announcement on the Hong Kong Stock Exchange. BYD states that it sold a whopping 94,941 BEVs in China last month, up 161.5% compared to September of 2021 (36,306 EVs).
Overall, BYD states that it sold 201,259 new energy vehicles (NEVs) in September alone – a record for the Chinese automaker and its first time eclipsing 200K units in a single month. Furthermore, September’s growth marks seven straight months of record sales. Total BEV sales are up over 183% compared to September of 2021 and up over 15% compared to a month ago.
Check out BYD’s NEV sales growth over the past three years. Notice the leap in sales in 2022 so far:
BYD states that its NEV sales numbers include commercial EVs in addition to passenger vehicles, but the former only contributed to 286 units for the month. That’s still over 200K passenger vehicles sold. These numbers do not even include PHEV sales, which also saw massive YOY growth at over 214%.
Although BYD is clearly a well-respected name with Chinese consumers, other foreign markets may not be as aware of the brand and its lineup of BEVs. Despite its short stint overseas, BYD’s early sales numbers are encouraging. Check them out:
| Month | NEV Units Sold | Growth Diff. |
| July 2022 | 4,026 | –– |
| August 2022 | 5,092 | +1,066 |
| September 2022 | 7,736 | +2,644 |
Late last month, BYD officially launched three EVs for the EU markets: the Han, Tang, and Atto 3. These markets now include Belgium, Denmark, Germany, Luxembourg, the Netherlands, Norway, and Sweden. EU pricing starts around 40k euros for the Atto 3. Not to be outdone, BYD has also shared plans to sell its vehicles in Japan as well. As the expansions continue, we can expect the automaker’s sales numbers to continue to trend upward through 2022, especially since it is reporting a backlog of 700,000 units.
We will keep an eye on BYD’s growth through October and the rest of Q4 2022. According to BYD chairman and president, Wang Chuanfu, the company is aiming to achieve monthly deliveries of 280,000 units by the end of the year. At its current growth rate, that’s entirely possible.
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Tesla’s Q2 results are in, and they are way, way down from Q2 of 2024. At the same time, Nissan seems to be in serious trouble and the first-ever all-electric Dodge muscle car is getting recalled because its dumb engine noises are the wrong kind of dumb engine noises. All this and more on today’s deeply troubled episode of Quick Charge!
We’ve also got an awesome article from Micah Toll about a hitherto unexplored genre of electric lawn equipment, a $440 million mining equipment deal, and a list of incompetent, corrupt, and stupid politicians who voted away their constituents’ futures to line their pockets.
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OpenAI is distancing itself from Robinhood‘s latest crypto push after the trading platform began offering tokenized shares of OpenAI and SpaceX to users in Europe.
“These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote on X. “We did not partner with Robinhood, were not involved in this, and do not endorse it.”
The company said that “any transfer of OpenAI equity requires our approval — we did not approve any transfer,” and warned users to “please be careful.”
Robinhood announced the launch Monday from Cannes, France, as part of a broader product showcase focused on tokenized equities, staking, and a new blockchain infrastructure play. The company’s stock surged above $100 to hit a new all-time high following the news.
“These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle,” a Robinhood spokesperson said in response to the OpenAI post.
Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who signed up to trade stock tokens by July 7. The assets are issued under the EU’s looser investor restrictions via Robinhood’s crypto platform.
“This is about expanding access,” said Johann Kerbrat, Robinhood’s SVP and GM of crypto. “The goal with tokenization is to let anyone participate in this economy.”
The episode highlights the dynamic between crypto platforms seeking to democratize access to financial products and the companies whose names and equity are being represented on-chain
U.S. users cannot access these tokens due to regulatory restrictions.
Despite the warnings, BYD continues introducing new discounts. On Wednesday, BYD’s luxury off-road brand began offering over 50% Huawei’s smart driving tech.
BYD introduces new discounts on smart driving tech
After BYD cut prices again in May, the China Automobile Manufacturers Association (CAMA) warned that the ultra-low prices are “triggering a new round of price war panic.”
Although they didn’t single out BYD, it was pretty obvious. BYD slashed prices across 22 of its vehicles by up to 34%, triggering several automakers to follow suit in China.
BYD’s cheapest EV, the Seagull, typically starts at about $10,000 (66,800 yuan). After the price cuts, the Seagull is listed at under $8,000 (55,800 yuan).
It doesn’t look like China’s EV leader plans to slow down anytime soon. Fang Cheng Bao, BYD’s luxury off-road brand, introduced new discounts on Huawei’s smart driving tech on Wednesday.
The limited-time offer cuts the price of Huawei’s Qiankun Intelligent Driving High-end Function Package to just 12,000 yuan ($1,700).
Buyers who order the smart driving tech in July will save over 50% compared to its typical price of 32,000 yuan ($4,500).
Earlier this year, Fang Chang Bao launched the Tai 3, its most affordable vehicle, starting at 139,800 yuan ($19,300). The Tai 3 is about the size of the Tesla Model Y, but costs about half as much.
The Tai 3 will spearhead a new sub-brand of electric SUVs following the more premium Bao 8 and Bao 5 hybrid SUVs.
BYD’s luxury off-road brand sold 18,903 vehicles last month, up 50% from May and 605% compared to last year. Fang Cheng Bao has now sold over 10,000 vehicles for three consecutive months.
The Chinese EV giant sold 382,585 vehicles in total in June, an increase of 12% from last year. In the first half of the year, BYD’s cumulative sales reached over 2.1 million, a YOY increase of 33%.
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