BYD, one of China's leading electric car manufacturers, has announced its ambitious sales target for 2023: 3.6 million units of its electric and plug-in hybrid models. This would make BYD the first car maker in China to surpass the 3 million mark and also put it among the top 10 global car makers by production volume.
BYD's president Wang Chuanfu revealed this goal at a recent meeting with investors, where he also shared the company's impressive performance in 2022. Despite the challenges posed by the Covid-19 pandemic and the global chip shortage, BYD managed to produce 1.86 million units last year, a staggering 213% increase from 2021. This year, BYD expects to achieve at least 3 million units and possibly up to 3.6 million.
If BYD reaches its upper target, it will surpass its domestic rivals, such as SAIC and Geely, and some of the world's most established car brands, such as Ford, Suzuki, and BMW. To put this into perspective, BYD has produced a total of 3.3 million electric and plug-in hybrid cars from its inception until 2022. This means BYD could match or exceed its cumulative production in just one year.
What is driving BYD's phenomenal growth? According to Wang Chuanfu, it is the company's relentless innovation and technological leadership in the electric vehicle industry. BYD has developed its own blade battery, which offers superior safety and durability compared to conventional lithium-ion batteries. It has also launched its electronic platform 3.0, which integrates advanced features such as intelligent connectivity, autonomous driving, and bi-directional charging. Moreover, BYD has a diverse electric model portfolio that caters to different segments and markets.
One of BYD's flagship models is the Han EV series, which was launched in July 2022 as the brand's offering for the mid-to-large luxury sedan market. The BYD Han EV boasts a range of up to 605 kilometers (376 miles) on a single charge, an acceleration of 0 to 100 km/h (62 mph) in just 3.9 seconds, and a sleek design that rivals some of the best European cars. The Han EV is also the world's first mass-produced model that uses BYD's blade battery, which can withstand high temperatures and prevent thermal runaway.
Besides the Han EV series, BYD also offers other popular models, such as the Song Pro EV SUV, the BYD Tang plug-in hybrid SUV, the Yuan compact crossover, and the newer BYD Seagull. BYD also plans to launch new models this year, such as the BYD Dolphin hatchback and the BYD Ocean-X coupe SUV. In addition, BYD is expanding its presence in overseas markets such as Europe, Latin America, and Africa, hoping to replicate its success in China.
BYD's vision is to become a global leader in new energy vehicles and green mobility solutions. With its ambitious sales target and innovative products, BYD is well on its way to achieving this goal and reshaping the future of transportation.