BYD sells 5 millionth electric vehicle, setting pace for sector

Electric vehicle manufacturer BYD yesterday said it had manufactured its 5 millionth electric-powered new energy vehicle (NEV), making the Chinese company the first automaker in the world to achieve that milestone, it said.

While the vehicle itself was a Denza N7 sport utility vehicle (SUV) intended for consumer markets, BYD also makes lines of forklifts and large and medium-sized trucks for logistics applications. 

Recent examples of BYD vehicle sales in the U.S. supply chain sector include electric forklifts paired with self-driving kits from autonomous vehicle technology vendor Cyngn, Class 8 battery-electric tractor-trailers purchased by DHL, and electric yard tractors for New York City’s Red Hook Terminals container yard. 

BYD has seen accelerating growth for its products since it launched in Shenzhen, China, in 1995. The company spent 13 years selling its first million new energy vehicles, another 18 months to reach three million, and just 9 more months to hit the five million mark.

The company has also been expanding its global presence since 2010, with its electric public transport solutions now operational in over 400 cities across more than 70 countries. Its new energy vehicles have been sold in over 54 countries, with the BYD ATTO 3 leading NEV sales in Thailand, Israel, and Singapore for several months. And in July 2023, BYD announced plans for three new factories in Brazil.