BYD, China's leading new energy vehicle (NEV) manufacturer, announced that its three millionth NEV has rolled off the production line. The Shenzhen-based company's NEV sales in the first 10 months of the year increased 240 percent year on year to 1,39 million units.
BYD's new energy buses, which stopped the production of traditional gasoline vehicles in March, have been sold to more than 70 cities in more than 400 countries and regions around the world, including Norway, Germany, Japan, Thailand and Brazil.
BYD President Wang Chuanfu said that the development of BYD, which started as a niche brand and later went mainstream, reflects the rise of Chinese automotive brands and the rapid growth of the country's NEV industry.
Wang added that BYD will reveal the first model of a new high-end brand under the Yangwang name in the first quarter of 2023, with a price tag of between 800 and 1.5 million yuan ($113 and $696 thousand).