BYD is selling more EVs than ever, so why is it trimming production in China?
BYD is coming off its best sales month of the year after slashing EV prices in late May. However, it may not be enough, as several sources claim BYD is cutting production in China due to slowing sales.
Why is BYD cutting EV production in China?
With nearly 382,476 new energy vehicles (NEVs) sold globally in May, BYD notched its best sales month of 2025.
Like most carmakers in China, BYD reports monthly NEV sales, which include fully electric vehicles (EVs) and plug-in hybrids (PHEVs).
BYD’s sales are up 39% through the first five months of the year, with over 1.76 million NEVs sold worldwide. Not including its commercial vehicles, BYD’s passenger vehicle sales are up 37% through May, with over 1.73 million units sold.
Its battery-electric vehicles (EVs) are leading the growth, with sales up 40% through the first five months of 2025 compared to the same period last year.
According to a few sources, it may still not be enough as BYD vehicles begin to pile up in China. Two people close to the matter told Reuters on Wednesday that BYD has trimmed production at several factories in China. It’s also reportedly delaying plans to add lines to expand output.
The sources claimed that BYD has cut night shifts and reduced capacity at some plants by at least a third as it faces rising inventory.
Although BYD has yet to confirm, one of the sources reported that at least four BYD plants are now operating at a slower pace.
One source said that the move was aimed at cutting costs and improving efficiency, while the other claimed it was due to BYD failing to meet its sales target.
If true, the claims could be pretty significant, given BYD’s aggressive price cuts last month. On May 23, BYD slashed prices by up to 34% on 22 of its vehicles.
BYD still expects to sell around 5.5 million vehicles this year, a nearly 30% increase from 2024. Last year, BYD sold over 4.72 million NEVs, up 41% from 2023. However, its annual growth rate has slowed over the past few years.
According to data from CnEVPost, BYD’s annual sales growth rate has declined from 218% in 2021 to 208% in 2022 and 62% in 2023.
A survey from the China Automotive Dealer Association last month found that BYD dealers held one of the highest inventory levels, with an average of 3.21 months. In comparison, the industry-wide average was 1.38 months.
Electrek’s Take
With an intensifying EV price war and a wave of low-cost domestic cars flooding the market, Chinese automakers, including BYD, are now looking overseas to drive growth.
BYD is coming off its sixth straight month with record overseas sales in May after selling over 89,000 NEVs outside of China.
After it topped Tesla in monthly vehicle registrations in Europe and the UK this year, BYD launched its most affordable EV earlier this month. The Dolphin Surf is the European version of its top-selling Seagull EV, which can be bought for under $8,000 in China right now.
BYD’s Dolphin Surf arrives as one of the most affordable vehicles in the UK, starting at just £18,650 (about $25,000).
During the launch event, BYD’s special advisor for Europe, Alfredo Altavilla, called (via Autocar) the Dolphin Surf “the missing piece in the A/B-segment.”
According to Altavilla, BYD is launching vehicles in Europe at a faster rate than any other carmaker. “I have zero problem in saying I don’t think there has ever been such a product offensive done in Europe as the one BYD is doing,” he said during the event.
BYD’s sales are expected to double in Europe this year to around 186,000 units. By 2029, S&P Global Mobility forecasts BYD’s sales could reach around 400,000 in Europe. Between its new plants in Hungary and Turkey, BYD is expected to have a combined annual production capacity of over 500,000 units.
And Europe is just one global market. BYD is already a leading EV brand in overseas markets like Brazil, Thailand, Australia, and several other key markets.
Even if the sources’ claims that BYD is cutting production in China are true, the world’s leading EV maker is still expected to see significant growth overseas over the next few years.
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The average US new car price crossed the $50,000 mark for the first time in September, according to new estimates from Kelley Blue Book (KBB). Prices have been climbing steadily for over a year, and the pace picked up this summer – but that hasn’t stopped Americans from buying.
KBB says September’s record average transaction price (ATP) was partly driven by luxury models and EVs, which pushed the market into record territory. EVs made up an estimated 11.6% of all new vehicles sold last month, which is also a record high. The average EV sold for $58,124 – up 3.5% from August’s adjusted figure.
In Q3, EV sales hit another milestone: 437,487 EVs were sold in the US, giving them a 10.5% market share. That’s nearly a 30% jump from the same period last year. With government-backed EV incentives expiring at the end of September, many buyers hurried to lock in their purchases.
Year-over-year, the average EV transaction price is basically flat, down just 0.4%. Incentives averaged 15.3% of ATP in September, or about $8,900 per vehicle – slightly lower than August but higher than a year ago, when incentives averaged 13%.
Tesla, which continues to dominate the EV market, saw an average ATP of $54,138 in September. That’s a slight dip from August and down 6.8% from a year earlier. With Tesla recently introducing the new Standard versions of the Model 3 and Model Y, KBB expects average prices across the segment to fall in the coming months. Erin Keating, executive analyst at Cox Automotive, thinks the market is “ripe for disruption.”
“It is important to remember that the new-vehicle market is inflationary. Prices go up over time, and today’s market is certainly reminding us of that,” said Keating. “The $20,000 vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market. Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory.”
Read more: US EV sales smash records in August as Tesla loses ground
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It’s official. The Genesis GV70 is about to get two new electrified options, including its first hybrid and extended-range (EREV) versions.
Two new Genesis GV70 electrified SUVs are coming soon
Genesis is turning 10, and it’s planning to go all out. Hyundai gave us a look at what’s coming last month during its CEO Investor Day.
The plans include Genesis expanding with new electrified powertrain offerings, including its first hybrid and extended-range electric vehicles.
Up until now, the luxury automaker has focused on fully electric (EV) or internal combustion engine (ICE) vehicles. By expanding into different electrified powertrains, Genesis hopes to attract new buyers to the brand while grabbing a bigger share of the luxury market.
Genesis will launch its first hybrid in 2026, the GV80. We knew the GV70 EREV would follow shortly after, but now it’s been confirmed that a hybrid model is also set to join the lineup.
We got our first look at the Genesis GV70 EREV last week. The vehicle was parked in South Korea and appeared to be nearly identical to the current model. Aside from a tag labeling it an EREV and a massive muffler at the back, it looks about the same as the Electrified GV70.
Now, we are finally getting a glimpse of the Hybrid version. The Genesis GV70 Hybrid was also caught by HealerTV in South Korea, this time with an HEV tag.
Like the EREV, the GV70 Hybrid is still covered in camouflage, but this time, you can see the vehicle has the brand’s sport package. The optional package adds sporty exterior and interior elements, including chrome around the Crest Grille and window trim.
The vehicle is still a prototype, so it could change by the time it reaches production form. However, as the reporter points out, the GV70 Hybrid could bring a unique new look to the GV70 series.
On the side of the tire, the letters “FL” are printed, which is typically shown on Hyundai vehicles set to receive a facelift.
Genesis is expected to launch the GV70 EREV in late 2026, followed by the Hybrid version sometime in early 2027.
According to Hyundai, the EREV will have a combined driving range of over 1,000 km (620 miles). Although it still runs on an electric motor, it will feature a small gas motor that acts as a generator to charge the battery and extend the driving range.
Genesis is betting on new electrified vehicles, including EVs, hybrids, and EREVs, to drive growth. The luxury brand aims to expand into up to 20 new European markets while gaining a bigger share of the US market. By 2030, Genesis aims to sell 350,000 vehicles.
Although it had planned to only offer fully electric vehicles from 2030, Genesis backed off on its commitment. Instead, it will use hybrids and EREVs as a bridge to an all-electric future.
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Duracell, the iconic US battery brand that started in the 1920s, is crossing the Atlantic to launch its first-ever EV fast charging network, Duracell E-Charge, in the UK.
Sales of gas and diesel cars will end by 2030 in the UK, which is driving EV sales and charging infrastructure growth. With more than £200 million ($266 million) in planned investment over the next decade, Duracell E-Charge is getting on the bandwagon with an aim to improve the fast charging experience.
Duracell has licensed its new network to Elektra Charge, a charge point operator set up to run the Duracell E-Charge network. The EV Network (EVN), one of the UK’s top charging infrastructure developers, will fund and build the charging hubs.
“The need for faster, more reliable charging to keep pace with EV adoption is clear,” said Reza Shaybani, CEO of The EV Network. “Duracell E-Charge is a direct response to that challenge.”
Duracell’s EV fast charging network will feature 400 kW ultra-fast chargers where drivers can pay via app, contactless, or plug-and-go. Each site will have intuitive interfaces, clear signage, and 24/7 support.
The first six Duracell E-Charge sites will come online in 2025. The Sunday Times reported that Duracell plans to grow its charging network to at least 100 charging stations with at least 500 charging points by 2030. The hubs will be strategically located along major motorways, near retail and hospitality venues, and at key city gateways.
“Charging your car should be as simple as changing the batteries in your remote,” said Mark Bloxham, managing director of Duracell E-Charge. “Plug. Play. Go.”
Electrek’s Take
I asked Duracell whether it had plans to launch Duracell E-Charge in the US, and I’ll update this story if I hear back. But if you want to know why this American legacy company launched its first DC fast charging network in the UK instead of the US, it’s a simple answer. Business-friendly, stable government policy.
Read more: InstaVolt is using GPS tracking to catch thieves stealing its EV charging cables
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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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