BYD EV gross sales grew practically 50% in January as exports reached a brand new excessive

After topping Tesla within the ultimate three months of 2023, BYD is beginning the yr off robust with EV gross sales rising one other 50% in January.

BYD EV gross sales momentum continues in January

BYD bought 105,304 totally electrical vehicles final month, up 48% from the 71,338 handed over final yr. Manufacturing was additionally up considerably, with 114,365 EVs constructed final month, up 64% YOY.

Curiously, BYD’s all-electric autos are starting to outpace its plug-in hybrids (PHEVs). BYD’s PHEV gross sales had been up 21% to 95,715 final month. Manufacturing was solely up 9% to 90,749 models.

After promoting practically 1.6 million EVs in 2023, BYD is fueling development with an abroad enlargement. The corporate delivered a file 36,174 autos abroad in January.

With 526,409 EVs bought within the ultimate three months of 2023, BYD topped Tesla’s 484,507 deliveries for the EV gross sales crown. Tesla doesn’t report month-to-month figures, so we are able to’t evaluate till the primary quarter outcomes are launched.

In the meantime, BYD’s common supervisor of branding and public relations, Yunfei Li, informed reporters earlier this week, “Tesla is our very revered trade peer. Additionally it is our consumer.”

It’s not “we should surpass them or they have to surpass us,” Li defined. As a substitute, BYD and Tesla must work collectively “to extend the brand new vitality automobile ‘cake.’”

Though BYD is understood for its low-cost EVs just like the Dolphin electrical hatch and Atto 3 SUV, the model is quickly increasing into new segments and markets.

The model revealed its premium Yangwang U7 electrical sports activities sedan final month with over 1,000 hp and a beginning price ticket of over $140,000 (1 million RMB). It would be a part of the 1,200 hp U8 off-roader that prices round $150,000 in BYD’s luxurious Yanwang model.

BYD additionally revealed various-sized electrical SUVs, together with the Sea Lion 07, Music L, and Yuan Up, that can compete with Tesla’s best-selling Mannequin Y.

Electrek’s Take

As BYD’s Li defined, it’s not about who’s promoting extra EVs. It’s about transitioning the auto trade for a sustainable future.

It’s enjoyable to match the 2 main EV makers to provide you an concept of the place issues stand, however on the finish of the day, it’s about cleaner transportation.

BYD is working with many of the high automakers, together with Tesla, Volkswagen, Hyundai, Ford, BMW, and others, as it really works to extend the share of EVs on the street, or in Li’s phrases, the electrical automobile “cake.”

The EV chief is already taking market share in key markets like Thailand, Brazil, and Columbia. Latest launches in Mexico, India, Australia, Indonesia, and Europe can even possible drive gross sales this yr.

BYD is now delivery its personal EVs with its first ship, the BYD Explorer No. 1, headed for Europe. It will probably carry as much as 7,000 autos because the automaker expands abroad.