BYD, a prominent Chinese automaker, has achieved a significant milestone by producing its 10 millionth new energy vehicle (NEV). This achievement underscores the company’s position as a key player in the automotive industry in China.
Founded in February 1995 with just 20 employees, BYD has grown exponentially over the years to become one of China’s largest automakers, boasting a workforce of more than 900,000. The company’s journey to success began in the battery business before venturing into the automotive sector in 2003 with the acquisition of Qinchuan. BYD’s first car, the 316, was launched in 2004, followed by the successful introduction of the F3 in 2005, which sold 100,000 units in just 14 months.
BYD’s commitment to innovation is evident in its development of plug-in hybrid technology, with the launch of the first-generation DM hybrid technology platform in 2008. The company’s continuous efforts in advancing hybrid technology culminated in the launch of the fourth-generation DM platform in 2021, offering improved performance and energy efficiency.
In May 2021, BYD celebrated the production of its one millionth NEV, solidifying its position as the first Chinese automaker to achieve this milestone. With the rapid growth in NEV sales, BYD made the strategic decision to cease production and sales of internal combustion engine vehicles in March 2022, focusing solely on producing PHEVs and BEVs.
The recent unveiling of the Denza Z9 sedan, the 10 millionth NEV produced by BYD, marks a significant moment for the company. The vehicle was delivered to Feng Ji, the founder and CEO of Game Science, in recognition of their global strategic partnership. This partnership aims to promote the digitization of China’s cultural relics and monuments, supporting future restoration efforts.
The Denza Z9, available in PHEV and BEV variants, features BYD’s e3 technology, offering a unique driving experience with tri-motor independent drive and dual-motor independent steering. Official deliveries of the model are set to begin in early December, with a starting price of RMB 334,800 ($46,270).
As BYD continues to expand its presence in the global market, the company’s projection to reach 6 million units in global deliveries by 2026 demonstrates its ambitious growth strategy. With a strong focus on NEVs and sustainable transportation solutions, BYD is poised to lead the way in shaping the future of the automotive industry.
In conclusion, BYD’s journey from humble beginnings to becoming a powerhouse in the automotive sector showcases the company’s commitment to innovation and sustainability. With a strong emphasis on NEVs and cutting-edge technology, BYD is well-positioned to drive the next phase of growth and transformation in the automotive industry.
