BYD’s bid to conquer EV markets

China’s biggest electric vehicle producer BYD is betting low prices and producing its own batteries and chips will make it a global EV leader. Sales of battery EVs exceeded 7.68 million in 2022


Price of BYD's Seagull starts at just $10,400. Its 55-kilowatt motor and 30-kilowatt-hour battery provide 300km range and top speed of 128km/h


Global workforce (thousands, fiscal year-end)

BYD Volkswagen Toyota Tesla	Global electric vehicle sales	

2013: Global sales reach 47,600 vehicles

2020: Sales grow to 3.1 million units, but still constitute just 4.4% of global market

2022: 14% of all new cars sold are electric

563 				663	676
333				362	373
159				224	570
6				71	128
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022


Global sales of battery electric vehicles (2022, excludes hybrids)

BYD 1,857,549
Volkswagen 572,100
Toyota 130,000
Tesla 1,314,330
Other EV makers 3,807,081

Total 7,681,060


Sources: Bloomberg, IEA, World Economic Forum
Picture: BYD 
© GRAPHIC NEWS