BYD Is The 1st Company To Sell 3 Million Plugin Vehicles In A Year

BYD Beats Its 3 Million Vehicle Sales Target For 2023

I wrote earlier today about BYD shooting past Tesla to become the #1 best selling BEV producer in the world. That’s such a momentous milestone that it deserved its own story. Now, though, let’s look into BYD’s year a bit more!

First of all, note that BYD was targeting 3 million vehicle sales in 2023, and it just surpassed that target. It had 3,023,679 electric vehicle sales in 2023. All of those are plugin vehicles. BYD stopped producing non-plugin vehicles a long time back, in April 2022. As far as how those plugin sales were split in 2023, 52% were full electrics (BEVs) and 48% were plugin hybrids. In the 4th quarter, 55% were BEVs and 45% were plugin hybrids, showing a trend toward full electrics.

Maybe the most impressive figure, and the one that could sting the most for hardcore Tesla fans, BYD’s sales grew by 62% in 2023! (That’s well above the 50% growth target Tesla has been targeting but was unable to hit in 2023.)