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In a remarkable display of growth and innovation, Chinese automaker BYD has made significant strides in the global electric vehicle (EV) market.

After exiting the Denza joint venture in December 2021, keeping just a 10% stake, BYD has continued to expand its presence in the industry. The brand Denza, originally a joint venture between BYD Auto and Daimler AG, is now established as a luxury brand within BYD's portfolio, selling three cars: Denza D9 MPV, Denza N8 mid-size crossover, and Denza N7 SUV, with the latter starting deliveries on July 31.

BYD's latest addition to the market, the Fang Cheng Bao brand, was revealed, positioned between Denza and Yangwang. The first car under this new brand, the Leopard 5 SUV, will be launched at the Chengdu Auto Show later this month.

BYD's commitment to electric vehicles is unwavering. Since April 2022, the company has focused exclusively on NEVs (a Chinese term including BEV, PHEV, and FCEV). This focus has paid off, as BYD became the EV sales champion in Thailand, Israel, and New Zealand, and launched its EVs in dozens of countries in Latin America, Europe, and Southeast Asia.

The company's dedication to clean energy is evident in its production figures. BYD produced its 5th million new energy vehicle (NEV) on August 9, 2023, just over two years after reaching the 4 million mark. Remarkably, it took BYD 13 years to produce 1 million NEVs, from 2008 to May 2021. In the past nine months alone, BYD added 2 million produced cars to its tally.

BYD's success is also reflected in its sales numbers. The company sold over 1.5 million vehicles since the beginning of the year (January to July), conquering 37% of China's NEV market. BYD's target for 2023 is 3 million vehicles, with an optimistic forecast of 3.6 million.

China's NEV export ranks first in the world, accounting for 60% of the world's production and sales and 70% of the world's patent publications. This dominance is a testament to BYD's innovative technology and commitment to sustainable transportation.

However, not all news from BYD has been positive. Claims of a new global EV speed record by the BYD Yangwang U9 have been debunked. Despite this setback, the Shenzhen-based company's future in the EV market looks bright, with the launch of high-end brand Yangwang and its SUV U8 and supercar U9.

As BYD continues to push the boundaries of electric vehicle technology and expand its global presence, it is clear that the company is a major player in the rapidly evolving world of electric vehicles.