Automotive giant BYD has just reported producing its five-millionth ‘NEV’, or New Energy Vehicle. The company puts that badge on all plug-in hybrids and battery-electric cars it makes. The anniversary car is a Denza N7 model.
The achievement is particularly impressive because no other automaker has reported a production milestone like this yet: even Tesla Inc. is stuck at 4.6 million units so far. Of course, BYD counts its all-electric cars together with PHEVs, and admits that its EV production quantity is only slightly larger than that of the hybrids.
Still, the Chinese corporation highlights that it managed to go from 3,000,000 NEVs to 5,000,000 in just nine months – an enviable achievement on this emerging market. A bit earlier, the company reported selling more than 260,000 PHEVs in a single month, thus setting another historical record.