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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. [14] 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]
BYD has dominated the Chinese EV industry since 2015, when it surpassed its domestic and overseas rivals in the world’s biggest car market. One of its key advantages against Tesla, the number ...
The company even overtook Tesla as the world's largest seller of battery electric vehicles. In a late January stock filing, BYD said it expected a 2023 profit of 29 billion to 31 billion yuan ($4 ...
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 ...
According to the China Association of Automobile Manufacturers, China surpassed the United States to become the world's largest automobile market in 2009 with a record 13.9 million vehicles sold in the country, compared to 10.43 million cars and light trucks sold in the United States. There is a quickly growing demand for transport in China as ...
The Chinese EV maker took Tesla’s crown as the world’s top-selling EV brand in the final quarter of 2023. BYD sold 526,409 pure electric vehicles in the October-December period last year ...