BYD’s Electrifying 2024: Over 4 Million NEVs Sold Worldwide

BYD has achieved a monumental milestone, selling a record-breaking 4.3 million vehicles globally in 2024—a 41% surge from 2023’s 3 million units. This marks the first time BYD has crossed the 4 million annual sales mark, cementing its dominance in the new energy vehicle (NEV) sector.

Key highlights from BYD's 2024 performance include:

• Battery Electric Vehicles (BEVs): 1.76 million units sold, accounting for 41.5% of total sales, reflecting a 12% growth year-on-year.
• Plug-in Hybrid Vehicles (PHEVs): A staggering 2.48 million units sold, representing 58.5% of total sales and a 72.8% increase over 2023.

BYD's strategic exit from internal combustion engine-only production in April 2022 has allowed it to focus exclusively on NEVs, including BEVs, PHEVs, and fuel cell electric vehicles (FCEVs). However, FCEV sales remain negligible in China.

The company's December 2024 figures were equally impressive, with 514,809 NEVs sold, marking the third consecutive month of surpassing 500,000 units. BYD's passenger vehicle sales totaled 4.25 million for the year, while commercial vehicle sales reached 21,775 units, a dramatic 520% rise in December alone.

On the global stage, BYD exported 417,204 vehicles in 2024, a 71.9% increase from 2023, with 57,154 units shipped overseas in December.

Beyond vehicles, BYD strengthened its position as a battery powerhouse, installing 194.7 GWh of capacity in 2024—up 29% from 2023—servicing top clients like Tesla, Nio, and Toyota.