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BYD's largest subsidiary, BYD Auto, was founded in 2003 and has grown to become the world's largest manufacturer of plug-in electric vehicles. [13] Since 2009, BYD's automotive business has contributed over 50% of its revenue. By 2023, it contributed over 80% of the company's total revenue.
The electric vehicle industry in China is the largest in the world, accounting for around 58% of global production of electric vehicles (EVs) [1] and more than 1.5 million exports in 2023. [2] In 2023, CAAM reported China had sold 9.05 million passenger electric vehicles, consisting 6.26 million BEVs (battery-only EVs) and 2.79 million PHEV ...
By 2023, BYD continued to be the world's largest plug-in hybrid electric vehicle manufacturer and the second-largest battery electric vehicle manufacturer (after Tesla), with global market shares of 21.4% and 15%, respectively. [69] [70] BYD also held a 36% market share in the new energy vehicle segment in China as of September 2023. [71]
China is the world’s largest EV market—and the most competitive. Sales of “new energy vehicles,” which includes both hybrids and battery EVs, expanded by 38% last year to reach 9.49 ...
China has the world's largest EV market; the sector is highly competitive due to the number of brands that operate in the country. Some EV makers have turned to price wars to increase sales ...
Now the world’s largest EV manufacturer, BYD still sells 90% of its cars in China, but is investing heavily in overseas markets to change this. ... the United Nations projects that China will be ...
The company is the biggest EV and energy storage battery manufacturer in the world, with a global market share of around 37% and 40% respectively in 2023. [4] [5] [6] The company is headquartered in the city of Ningde in China's Fujian province.
Visitors view a BYD Seal 06 DM-i electric car at the 2024 China (Tianjin) International Auto Show on Oct. 3, 2024. ... from the world’s second-largest economy, where consumers bought 1.1 million ...