BYD just nabbed another ‘world’s first’ milestone as record sales run heats up
China’s BYD just topped another major milestone. The EV giant produced its ten millionth new energy vehicle (NEV) this week, becoming the first automaker to accomplish the feat. BYD’s accomplishment comes just three years after its one-millionth NEV rolled off the assembly line. After its fifth straight record sales month, BYD is now closing in on top global automakers like Ford.
BYD continued its dominant run after selling over 500,000 vehicles for the first time in a single month in October.
October was BYD’s fifth straight record-breaking month for NEV sales, including plug-in hybrid (PHEV) and battery electric (EV) models. Through the first ten months of 2024, BYD has sold over 3.25 million NEVs, up 36% from last year. Nearly 1.36 million of them were all-electric.
Amid a wave of new competition and an intensifying EV price war in China, BYD is setting up shop in key overseas markets to drive growth.
The company opened its first manufacturing plant in Thailand, a booming EV market. New facilities are coming online soon in Hungary, Brazil, Pakistan, Turkey, and Mexico.
As BYD continues expanding into new markets, China’s EV giant is quickly catching up to global auto leaders. After topping Nissan and Honda for the first time in Q3, BYD is now on pace to surpass Ford in global deliveries soon.
BYD tops 10 million NEV production milestone
BYD announced on social media Monday that it became the “world’s first automaker to achieve the rollout of the 10 millionth new energy vehicle.”
The milestone comes ahead of BYD’s 30th anniversary. BYD was founded in 1995 with around 20 employees. Now, it’s one of the largest in the world, with over 900,000 employees.
BYD launched its first mass-production car, the F3, in 2005. With around 100,000 sales in just over a year, the F3 helped propel BYD to become the global auto leader it is today. According to the company’s president, Wang Chuanfu (via CnEVPost), the early success gave BYD confidence in the auto market.
Another big reason behind BYD’s success is its early beginnings as a battery maker. By 1998, BYD was already the second-largest rechargeable battery producer.
In 2000, the company scored major deals with Motorola and Nokia, securing its role in the battery market.
BYD built its first NEV, the F3DM, equipped with its first-gen DM hyrid tech, in 2008. Wang claims it was the “world’s first” plug-in hybrid to hit the streets.
Sales are surging
Just four years ago, BYD sold less than 30,000 vehicles a month. Now, that number is over 500,000. It launched its fifth-gen DM hybrid tech earlier this year, which significantly improved fuel consumption and performance.
In May 2021, BYD produced its one million NEV. Today, it crossed the 10 million mark, a massive milestone as the company looks to secure its spot as a global auto leader.
BYD’s growth accelerated after it stopped making vehicles with an internal combustion engine in March 2022. Now, it focuses on PHEV and EV models.
Last year, BYD introduced the Qin Plus Champion Edition (PHEV model), priced below 100,000 yuan ($13,900) for the first time. BYD said that at the same price as gas-powered cars, the new model was “directly destroying the moat of joint venture vehicles.”
Although best known for its ultra-affordable EVs, like its top-selling Seagull, which starts at under $10,000 (69,800 yuan), BYD is rapidly expanding its lineup with new luxury models, smart midsize SUVs, and electric supercars hitting the market.
The milestone comes as BYD closes in on Ford in global deliveries. The company already outsold Ford by about 40,000 vehicles in the third quarter.
As sales climb, BYD is ramping up production and expanding its workforce. BYD’s executive vice president, He Zhiqi (via Reuters), said the company hired nearly 200,000 new employees between August and October. It also ramped up production by about 200,000 units to meet the demand.
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The State of California is moving to ban the sale of Tesla cars amid claims that the company and its CEO, Elon Musk, have misled buyers about the self-driving capabilities of their cars. We’ve also got market-leading news out of Vietnam and a pricey, pricey lesson for one VW ID.Buzz buyer on today’s lesson-learning episode of Quick Charge!
We also ask what this might mean for the recent Uber/Lucid autonomous taxi tie-up and go through a full rundown of the fastest depreciating EVs on the market (and yes, there are four Tesla models in the top 10 … because the Cybertruck was too new to qualify).
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If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Sunrun is putting tens of thousands of home batteries to work in Puerto Rico as the island’s electric grid faces a summer of high temperatures and energy shortfalls.
The company says it’s now dispatching energy from over 37,000 residential batteries to help grid operator LUMA keep the lights on. That stored power is being used to prevent rolling blackouts when demand spikes and centralized power plants can’t keep up.
Sunrun’s emergency power contribution has grown more than tenfold since last summer. LUMA expects more than 75 energy shortfall events between now and October, with each dispatch sending electricity to the grid for four consecutive hours. During several recent evenings, Sunrun and other virtual power plant (VPP) operators provided enough energy to offset a 50-megawatt generation gap, LUMA said.
Sunrun CEO Mary Powell said Puerto Rico’s aging infrastructure and intense weather patterns make home battery support increasingly critical:
It’s going to be a very difficult summer, which is why Sunrun has ramped up our dispatch capabilities, using tens of thousands of home batteries to support the grid and people of Puerto Rico.
She added that distributed power plants like Sunrun’s serve the same role as natural gas peaker plants – offering fast, reliable power during high-demand moments – but with clean energy.
Sunrun customers enrolled in the VPP will get paid too. Each participating battery earns about $200 minimum for the season, and customers who allow more of their stored energy to go to the grid earn even more. Sunrun also earns revenue for operating the VPP.
Read more: The US’s largest virtual power plant now runs on 75,000 home batteries
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Volkswagen is advertising ID.4 leases starting at just $99 a month. It’s hard to find any car lease these days for under $100 a month, but for $45,000 electric SUV, it’s almost unheard of.
Volkswagen offers ID.4 leases as low as $99 a month
The Volkswagen ID.4 was the third top-selling EV in the US in January after the 2025 model year went back on sale.
Volkswagen’s electric SUV starts at $45,095 with an EPA-estimated driving range of 291 miles. It’s available in five different trims: Pro, AWD Pro, Pro S, AWD Pro S, and AWD Pro S Plus.
The base 2025 VW ID.4 Pro RWD is equipped with 282 hp from a single rear electric motor. Inside, it features a 12.9″ infotainment system with Android Auto and Apple CarPlay support, heated front seats, dual-zone climate control, and Volkswagen’s new ID.Cockpit digital instrument display.
Upgrading to the AWD version will gain a tow hitch and an additional 53 hp, for a combined maximum of 335 hp. The added power comes at the cost of some range, with an EPA-estimated range of 263 miles.
Volkswagen was already offering 2025 ID.4 leases as low as $129 a month, but some dealers are listing it for even less this month.
A California dealership, Volkswagen of Garden Grove, has the 2025 ID.4 Pro RWD listed for lease at just $99 per month. The offer is for 24 months with $2,995 down. According to the dealer, the offer includes a $5,000 cash back bonus, good on a new ID.4 purchase or lease.
We thought the 2025 Hyundai IONIQ 5 was a good deal with leases starting at just $179 per month, but for $99, now that’s a steal.
Looking for deals on the Volkswagen ID.4 near you? You can use our link to find and view offers on the 2025 Volkswagen ID.4 in your area (via a trusted affiliate link)
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