Sales of BYD New Energy Vehicles (NEV) remained stagnant in August, with hybrid vehicles continuing to show a downward trend.

BYD's New Energy Vehicle Sales and Power Battery Production Reach Record Highs

In a significant leap forward, Chinese automotive giant BYD has reported impressive growth in its new energy vehicle (NEV) sales and power battery production for the first eight months of the year.

According to the company's latest figures, BYD's installed capacity of power batteries and energy storage batteries from January to August totaled about 180.051 GWh, marking a 66.84 percent year-on-year increase. This growth was particularly evident in August, where installations amounted to about 23.175 GWh, a 22.97 percent year-on-year increase and a 3.69 percent rise from July.

BYD's NEV sales have also seen a substantial boost. From January to August, the company sold a total of 2,863,876 NEVs, marking a 23.00 percent year-on-year increase. In August alone, BYD sold 373,626 NEVs, with a mere 0.15 percent year-on-year increase and an 8.52 percent rise from July. This growth was driven by strong sales of passenger NEVs, which recorded sales of 2,825,802 units during the same period, up 21.86 percent year-on-year.

The company's passenger battery electric vehicle (BEV) sales were particularly noteworthy, with 199,585 units sold in August, up 34.43 percent year-on-year and up 12.20 percent month-on-month. This growth in BEV sales contributes to the total of 1,400,853 units sold from January to August, a 39.44 percent year-on-year increase.

However, the growth in passenger plug-in hybrid electric vehicle (PHEV) sales has been less consistent. In August, passenger PHEV sales totaled 171,916 units, down 22.69 percent year-on-year and up 5.38 percent from July. This marks the fifth consecutive month of year-on-year decline for passenger PHEV sales.

BYD's overseas NEV sales have also shown impressive growth. In August, the company sold 80,813 NEVs overseas, a 156.95 percent increase year-on-year and a 0.09 percent rise from July. From January to August, BYD's overseas NEV sales reached 625,816 units, up 136.27 percent year-on-year.

In the commercial NEV sector, sales have been more volatile. BYD sold 2,125 commercial NEVs in August, down 4.67 percent year-on-year and down 34.94 percent month-on-month. However, sales during the same period totaled 38,074 units, surging 294.51 percent year-on-year.

BYD's impressive growth has solidified its position as China's second-largest power battery producer. The company leading in the January-August sales of new energy vehicles (NEVs) in the People's Republic of China with 2,863,876 NEVs sold is BYD. This significant achievement underscores the company's commitment to sustainable transportation and its strategic position in the rapidly growing new energy vehicle market.