BYD’s BEV Sales Surge 39% in May While PHEVs Dip for Second Straight Month
Chinese electric vehicle giant BYD reported strong performance in May, selling 382,476 new energy vehicles (NEVs) — a 15.27% year-on-year increase. Among them, passenger NEVs reached 376,930 units, with battery electric vehicles (BEVs) growing 39.60% year-on-year to 204,369 units. However, plug-in hybrid electric vehicles (PHEVs) declined 6.26% compared to the previous year.
Notably, overseas NEV sales hit a new record for the sixth consecutive month, totaling 89,047 units in May — a remarkable 137.46% year-on-year surge.
BYD Eyes 5.5 Million Car Sales by 2025 Amid Record-Breaking Overseas Growth
From January to May 2024, BYD sold 919,146 PHEVs (up 33.99%) and 374,217 NEVs overseas (up 112.13%). The company’s power battery and energy storage installations reached 107.5 GWh in the same period, marking a 90.43% increase.
BYD, which fully exited internal combustion engine vehicles in 2022, is targeting 5.5 million car sales in 2025, with over 800,000 units planned for overseas markets.
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