There was a time when BYD’s sustainable vehicle efforts were seemingly brushed aside by industry leaders like Tesla CEO Elon Musk. That time has long passed, and BYD’s presence in the hybrid, PHEV, and BEV sector has grown to a point where it has garnered the respect of the global auto industry. This was highlighted recently, when BYD celebrated a new milestone by producing its 7 millionth new energy vehicle (NEV).
As noted by the Chinese automaker in a post on Weibo, its 7 millionth NEV is an N7 SUV from the company’s premium sub-brand Denza. Denza was established as a joint venture between BYD and Daimler way back in 2011, but over the years, the Chinese NEV maker has taken a larger stake in the company. In 2022, BYD’s stake in Denza was at a substantial 90%.
BYD is similar to other mainstream automakers in that it operates several sub-brands. So far, BYD builds vehicles under its main brand, BYD Auto, but it also produces cars through its premium sub-brands, Denza, Fang Cheng Bao, and Yangwang. Interestingly enough, vehicles from the company’s sub-brands have achieved a number of BYD’s NEV milestones.
While BYD’s 1 millionth NEV was a Han EV from its main BYD Auto brand, the company’s 5 millionth NEV, which was produced in August 2023, was a Denza N7. In November 2023, BYD produced its 6 millionth NEV, a Bao 5 off-road SUV, the first vehicle from its Fang Cheng Bao brand, as noted in a CNEV Post report.
BYD overtook Tesla as the world’s largest producer of BEVs in late 2023. Yet in a comment last month, BYD Executive Vice President and CEO of BYD Americas Stella Li noted that the NEV juggernaut currently has no plans to enter the US market. In a comment to Yahoo Finance, Li noted that the US EV market is quite complicated, and it also seems to be seeing a slowdown in electrification.
“It’s an interesting market, but it’s very complicated if you’re talking about EV, and then I think the US market is a little bit slowdown on electrification, and there are a lot of confusing, also very complicated, so we’re saying, ‘No…we don’t have plans to come to the US,” she said.
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