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BYD byd han China Electric eMobility eV Order Backlog

BYD says 2023 Han DM series gets 8,051 orders on day of launch

Of the 8,051 orders received on launch day, the average price exceeded RMB 240,000, with 35.9 percent of consumers ordering the model with a range of 200 km, said.

(Image credit: BYD)

Facelifts of the hybrid variants of BYD's flagship sedan Han garnered thousands of orders on launch day, underscoring that its strategy of making prices lower by releasing revamped versions of current models is working.

The 2023 Han DM-i and Han DM-p garnered 8,051 orders on launch day, the Chinese new energy vehicle (NEV) giant announced today.

Both models were officially launched in China yesterday afternoon, with the 2023 Han DM-i offered in six versions starting at RMB 189,800 ($27,000), RMB 199,800, RMB 209,800, RMB 219,800, RMB 239,800 and RMB 249,800, and the 2023 Han DM-p offered in just one version with a starting price of RMB 289,800.

Compared to the previous starting prices of these two models, the Han DM-i is RMB 28,000 lower and the Han DM-p is RMB 32,000 lower.

The 2023 Han DM-i is available in four versions with an NEDC pure electric range of 121 km and two other versions with 200 km. The new Han DM-p has an NEDC pure electric range of 200 km.

Of the 8,051 orders received on launch day, the average price exceeded RMB 240,000, with 35.9 percent of consumers ordering the model with a 200-km range, BYD said today.

The massive price war that erupted in China's auto industry in March is seen as having largely subsided, though BYD's strategy of making prices even lower by releasing new models is making things interesting.

Many BYD models are offered in both pure electric and plug-in hybrid versions, with the latter may also include a DM-i version that focuses more on fuel economy and a DM-p version that focuses more on performance.

On March 16, BYD made the 2023 Han EV available for a starting price of RMB 209,800, down from RMB 219,800 for the model's 2022 version.

On May 10, BYD made a revamped version of its all-electric Seal sedan available, with a starting price of RMB 23,000 lower than the previously available model.

BYD aims to sell at least 3 million vehicles this year and strives to reach 3.6 million, the company's chairman and president Wang Chuanfu said at a March 29 investor conference.

The company sold 210,295 NEVs in April, up 98.31 percent from 106,042 a year earlier and up 1.55 percent from 207,080 in March, data released earlier this month showed.

($1 = RMB 7.0566)

BYD launches facelifts of Han sedan's hybrid variants with lower prices

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BYD byd han China Electric eMobility eV Product Launch

BYD launches facelifts of Han sedan’s hybrid variants with lower prices

This is 's latest move to further expand its market share by launching revamped models to make prices lower, following the launch of the 2023 Han EV, as well as the 2023 Seal.  |  BYDDY.US | BYD HK

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) has released revamped models of the plug-in hybrid version of its flagship Han sedan to make it more affordable, similar to what it has done so far this year to expand its market share.

The new energy vehicle (NEV) giant today officially made the 2023 Han DM-i Champion and 2023 Han DM-p Warrior editions available in China, starting at lower prices while allowing for upgraded specifications.

The 2023 Han DM-i is available in six versions with starting prices of RMB 189,800 ($27,000), RMB 199,800, RMB 209,800, RMB 219,800, RMB 239,800 and RMB 249,800 respectively.

The previously available Han DM-i has 4 versions with starting prices of RMB 217,800, 227,800, 237,800 and 291,800 respectively.

This means that the starting price of the 2023 Han DM-i is reduced by RMB 28,000.

BYD's 2023 Han DM-p is only available in one version with a starting price of RMB 289,800.

The 2022 Han DM-p is also available in one version at a starting price of RMB 321,800. The price for the 2023 model was reduced by RMB 32,000.

Several BYD models are available in both pure electric and plug-in hybrid versions, with the latter sometimes include a DM-i version that focuses more on fuel economy and a DM-p version that focuses more on performance.

On March 16, BYD made the 2023 Han EV available for a starting price of RMB 209,800, down from RMB 219,800 for the model's 2022 version.

The BYD Han has a length, width and height of 4,975 mm, 1,910 mm and 1,495 mm, respectively, and a wheelbase of 2,920 mm.

The entry version of the 2023 Han DM-i can accelerate from 0 to 100 km/h in 7.9 seconds and the 2023 Han DM-p in 3.7 seconds.

The 2023 Han DM-i has two options for pure electric range, with an NEDC range of 121 km and 200 km. The model has a combined range of 1,260 km on full fuel and full charge.

The Han DM-p has an NEDC range of 200 km and a combined range of 1,120 km on a full fuel and charge.

Chinese NEV companies have generally faced weaker consumer demand so far this year, with the withdrawal of state purchase subsidies at the end of last year.

Many NEV makers have chosen to stimulate sales by cutting prices, and BYD has previously offered discounts for some of its models.

Unlike other peers, BYD's larger model matrix and vertical integration of its supply chain has allowed it to get prices lower by quickly rolling out facelifts.

On May 10, BYD made a revamped version of its all-electric Seal sedan available for sale, starting at RMB 23,000 less than the previously available model.

BYD sold 210,295 NEVs in April, up 98.31 percent from 106,042 units a year earlier and up 1.55 percent from 207,080 units in March, figures released by the company earlier this month showed.

The BYD Han family sold 14,329 units in April, up 6.77 percent year-on-year and 5.75 percent from March.

BYD Seal sold 6,212 units in April, up 3.53 percent from 6,000 units in March.

BYD aims to sell at least 3 million vehicles this year and strives to reach 3.6 million, the company's chairman and president Wang Chuanfu said at a March 29 investor conference.

($1 = RMB 7.0342)

BYD aims to sell at least 3 million vehicles this year

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BYD BYD Dolphin BYD Europe BYD Global BYD Seal China Electric eMobility eV

BYD Dolphin, Seal to be available in Europe this year

The Dolphin will be available for pre-order this summer, with deliveries in the fourth quarter, and the Seal will be available in Europe shortly thereafter, said.  |  BYDDY.US | BYD HK

(Image credit: BYD)

The BYD Dolphin and Seal will be available in Europe within the year, and will be the first time the company's Ocean series models to be brought there.

BYD recently held a new car launch in Barcelona, Spain, announcing that the Dolphin and Seal will be available in Europe in 2023, according to a press release from the company today.

The Dolphin will be available for pre-sale this summer, with deliveries in the fourth quarter, and the Seal will be available in Europe shortly thereafter, BYD said.

The two models will be BYD's new batch of all-electric models in Europe, following the launch of the Han, Tang and ATTO 3 in Europe last year, and will be the first Ocean series models to be launched for the European market.

These two models will further enrich BYD's European new energy vehicle (NEV) model matrix and will allow more users to enjoy a high-quality new energy mobility experience, BYD said.

BYD officially launched the BYD brand and three models to the European market at the Paris auto show in October 2022. Now, the arrival of the Dolphin and Seal models marks BYD's determination to further expand into the European NEV market, said Michael Shu, general manager of BYD Europe.

On September 28 last year, BYD introduced three battery electric vehicles (BEVs) -- Atto 3, Han, and Tang -- to the European market at an online launch event for delivery to Norway, Sweden, Denmark, the Netherlands, Belgium, Luxembourg and Germany.

All three models are part of BYD's Dynasty series, with the Atto 3 being the first SUV based on BYD's e-Platform 3.0, known as the Yuan Plus in China. Han is the company's flagship all-electric sedan, and Tang EV is its flagship SUV.

Both the Dolphin and the Seal are models in BYD's Ocean series, the former an all-electric compact car and the latter an all-electric sedan.

BYD sold 207,080 NEVs in March, up 97.45 percent from 104,878 units in the same month last year and up 6.93 percent from 193,655 units in February, according to data released on April 2.

In March, BYD sold 13,312 NEVs in overseas markets, down 11.27 percent from 15,002 units in February.

The company stopped producing and selling vehicles powered entirely by internal combustion engines in March last year and switched to focus on producing plug-in hybrids and pure electric vehicles.

BYD Dolphin sold a record 30,077 units in March, up 186.42 percent year-on-year and up 31.56 percent from February.

The BYD Seal sold 6,000 units in March, down 22.62 percent from February.

BYD flexes innovation muscle, unveils intelligent body control system

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Auto Show BYD China Electric eMobility eV Yangwang Yangwang U8

BYD Yangwang to start pre-sale of U8 off-road SUV on Apr 18

The U8, the first production model of the Yangwang brand, is a hardcore off-road SUV that will be priced at the RMB 1 million level.

(Image credit: CnEVPost)

's premium brand Yangwang will begin pre-sales of its first model on the first day of the Shanghai auto show, after the model was officially unveiled in January.

Pre-sales of the Yangwang U8, which will redefine hardcore off-roading, will begin on April 18, Yangwang said on Weibo today.

"See you in Shanghai on April 18," Yangwang said, hinting that the U8 will be on display at the upcoming Shanghai auto show.

The Shanghai auto show will be held at the National Exhibition and Convention Center from April 18-27, with media days from April 18-19 and professional visitor days from April 20-21, while the general public can enter from April 22-27.

BYD's booth is 7A06 at Hall 7.1 and Yangwang is at 8A05 at Hall 8.1. On April 7, Yangwang said the U9 electric supercar will be on display at the Shanghai auto show.

BYD officially launched the Yangwang brand on January 5, along with the first two models -- Yangwang U8 and Yangwang U9.

The U8, the first production model of the Yangwang brand, is a hardcore off-road SUV that is more than 5 meters long and 2 meters wide.

The model is capable of accelerating from 0 to 100 km/h in 4 seconds and will be priced at RMB 1 million ($146,000) level.

The Yangwang U8 has the performance, safety and reliability of a hardcore off-road SUV, with intelligent extrication and emergency avoidance capabilities in complex road conditions, along with technology and intelligence, BYD previously said.

The Yangwang U9, on the other hand, is a supercar that will also be priced at the RMB 1 million level, accelerating from 0 to 100 km/h in less than 3 seconds.

BYD announced the Yangwang brand along with a technology platform called e⁴, which it said was the first mass-produced four-motor independent drive technology platform. Both the U8 and U9 will be equipped with e⁴ technology.

On April 10, BYD officially unveiled its intelligent body control system called DiSus in Shenzhen, which is another technological breakthrough after its DM super hybrid technology, e-Platform 3.0, Blade Battery and e⁴ platform.

The BYD DiSus system is divided into three branches, including the Intelligent Damping Body Control System (DiSus-C), the Intelligent Air Body Control System (DiSus-A), and the Intelligent Hydraulic Body Control System (DiSus-P).

DiSus-P, which has a suspension adjustment travel of up to 200 mm and can lift all four wheels simultaneously as well as independently for a single wheel, will first be equipped on the Yangwang U8.

($1 = RMB 6.8388)

BYD officially launches Yangwang brand, debuts hardcore off-road SUV U8 and supercar U9

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Auto Show China Electric eMobility eV Nio

Shanghai auto show: Complete map about exhibitors’ booths

, XPeng, and 's booths were all in Hall 6.1, was in Hall 7.1, and Tesla is absent.

The organizers of the upcoming Auto Shanghai 2023, which will start on April 18, have announced the booth locations of all exhibitors.

We start this post with a table showing the booth locations of the major car companies and follow it with a full floor plan of the halls.

Specifically, NIO's booth is 6A01 in Hall 6.1, XPeng is 6A08 in Hall 6.1, and Li Auto is 6A04 in Hall 6.1.

BYD is at 7A06 in Hall 7.1, and its Yangwang brand is at 8A05 in Hall 8.1.

The absence of Tesla in these maps means it will not be at the Shanghai auto show.

Tesla attended the last Shanghai auto show two years ago, but entered the spotlight then because of a female owner's protest on the roof of a car. Since then, Tesla has not participated in any auto shows in China.

The Shanghai auto show will be held at the National Exhibition and Convention Center from April 18 - 27, where April 18 - 19 will be the media days, April 20 - 21 will be the professional visitors' days, and the general public will be able to enter and visit from April 22 - 27.

Major exhibitors at Shanghai auto show 2023

HallBoothExhibitor
Hall 33A01Chevrolet
Hall 33A02Buick
Hall 33A03SAIC Maxus
Hall 33A04IM Motors
Hall 33A05SAIC Audi
Hall 33A06Cadillac
Hall 33A07SAIC Volkswagen
Hall 33A08MG
Hall 33A09Rising Auto
Hall 33A10Roewe
Hall 4.14A01Smart
Hall 4.14A02Volvo
Hall 4.14A03Denza
Hall 4.14A04Hyundai & Beijing Hyundai
Hall 4.14A05Jiangling
Hall 4.14A06Shenlan
Hall 4.14A07Mercedes Benz
Hall 4.14A08Arcfox
Hall 4.14A09BAIC Group
Hall 4.14A10Dayun New Energy
Hall 4.14A11Skyworth Auto
Hall 4.14A13Visteon
Hall 5.15A01Hongqi
Hall 5.15A02Volkswagen
Hall 5.15A03Changan Mazda
Hall 5.15A04Toyota Boshoku
Hall 5.15A05Jetta
Hall 5.15A06Audi
Hall 5.15A07Geely
Hall 5.15A08China Mobile
Hall 5.15A09Unity China
Hall 5.15A10SenseAuto
Hall 6.16A01NIO
Hall 6.16A02AITO
Hall 6.16A03Lynk & Co
Hall 6.16A04Li Auto
Hall 6.16A05
Hall 6.16A07
Hall 6.16A08XPeng
Hall 6.16A09Ecarx
Hall 6.16A10Hycan
Hall 6.16A11
Hall 6.16A12Innovusion
Hall 6.16A13FinDreams
Hall 7.17A01Mini
Hall 7.17A02BMW
Hall 7.17A03HiPhi
Hall 7.17A04Yuanhang
Hall 7.17A05Haval & Great Wall Cannon
Hall 7.17A06BYD Auto
Hall 7.17A07
Hall 7.17A08Baidu Apollo
Hall 7.17A09Bosch
Hall 7.17A10Brabus
Hall 6.26B01Dongfeng M Hero
Hall 6.26B02Jaguar Land Rover
Hall 6.26B03Lexus
Hall 6.26B04Voyah
Hall 6.26B05Tank & Wey
Hall 6.26B06Genesis
Hall 6.26B07Polestar
Hall 6.26B08Volvo
Hall 6.26B09Avatr
Hall 6.26B10Lincoln
Hall 6.26B12Horizon Robotics
Hall 7.27B01Nissan
Hall 7.27B02Dongfeng Motor
Hall 7.27B03iCAR
Hall 7.27B04Honda
Hall 7.27B05Fujian Benz
Hall 7.27B06JAC Group
Hall 7.27B07
Hall 7.27B08Dongfeng Citroen
Hall 7.27B09Jetour
Hall 7.27B10Chery
Hall 7.27B11Exeed
Hall 7.27B12Dongfeng Peugeot
Hall 8.18A01Ducati
Hall 8.18A02Mansory
Hall 8.18A03Bentley
Hall 8.18A04Lorinser
Hall 8.18A05Yangwang
Hall 8.18A06Honda Motorcycle
Hall 8.18A07Porsche
Hall 8.18A08Horwin
Hall 8.18A09Vulcanus
Hall 8.18A10AM
Hall 8.18A11Auxun/Lumma
Hall 8.18A12Shenzer
Hall 8.18A13Zhejiang Carlsson
Hall 8.18A14Juntian
Hall 8.18A15Kafu
Hall 8.18A16Jinghang
Hall 8.18A17Harley-Davidson
Hall 8.18A18Armadillo
Hall 8.18A19Cyberspace
Hall 8.18A20Maserati
Hall 8.18A21Lamborghini
Hall 8.18A22Karlmann
Hall 8.18A23Kede
Hall 8.18A24Rolls-Royce Motor Cars
Hall 8.18A25Lotus
Hall 8.18A26Bufite
Hall 8.28B01Subaru
Hall 8.28B02FAW Bestune
Hall 8.28B03Changan
Hall 8.28B04Ford Motor
Hall 8.28B05
Hall 8.28B06GAC Trumpchi
Hall 8.28B07
Hall 8.28B08Toyota
Hall 8.28B09Livan
Hall 8.28B10Kia
Hall 8.28B12Black Sesame

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BYD BYD Song L China Electric eMobility eV Product Launch

BYD’s new all-electric SUV Song L to debut at Shanghai auto show

In the first quarter, the Song family of models sold 142,775 units, up 93.69 percent year-on-year.

(Image credit: )

As one of the best-selling BYD models, the Song family is about to see a new member.

The Song L, a B-class all-electric SUV from BYD's Dynasty series, will debut at the Shanghai auto show, the new energy vehicle (NEV) maker announced today on Weibo.

BYD didn't reveal any more information about the Song L, but provided an image showing the model's front design.

It first teased the model on Weibo yesterday and shared a picture showing the rear design, but did not announce the model's name.

The upcoming biennial Shanghai auto show will be held from April 18 - 27, where April 18 - 19 will be the media days, April 20 - 21 will be the professional visitors' days, and the general public can visit from April 22 - 27.

The BYD brand of vehicles includes the Dynasty series as well as the Ocean series, both of which have Song family models.

The Song Max DM-i and Song Pro DM-i currently on sale are part of the Dynasty series, while the Song Plus DM-i and Song Plus EV are part of the Ocean series. BYD's soon-to-be-revealed Song L will be a new member of the Dynasty series.

Song family models have been the top-selling BYD models for the past several months, though they were surpassed by the Qin family models in March.

BYD sold 207,080 NEVs in March, up 97.45 percent from 104,878 units in the same month last year and up 6.93 percent from 193,655 units in February, according to data released on April 2.

The Qin family of models sold a record 40,850 units in March, making it the highest-selling BYD model for the month and contributing 19.8 percent of the NEV maker's passenger NEV sales last month.

The Song family of models sold 40,510 units in March, second only to the Qin family of models. The Song family's sales in March increased 51.56 percent from 26,729 units in the same month last year but decreased 22.69 percent from 52,400 units in February.

In the first quarter, the Song family of models sold 142,775 units, up 93.69 percent from a year ago, according to data monitored by CnEVPost.

BYD Mar sales breakdown: Qin 40,850, Song 40,510

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Battery Data Battery News BYD CABIA CALB CATL China Electric eMobility eV Gotion High-Tech LFP Batteries Monthly Data Ternary Batteries

China EV battery installations in Mar: CATL overtakes BYD in LFP market for 1st time this year

CATL's share of the LFP market in March was 39.47 percent, higher than 38.88 percent for , which was No. 1 in the LFP market in both January and February.

China's electric vehicle (EV) battery installations continued to grow last month, with CATL maintaining its lead and regaining the top spot over BYD in the lithium iron phosphate (LFP) battery market.

China's power battery installations in March were 27.8 GWh, up 29.7 percent year-on-year and up 26.7 percent from February, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).

CATL's power battery installed base in March was 12.49 GWh, continuing to rank first with a 44.95 percent share, up from 43.76 percent in February.

BYD installed 7.40 GWh of power batteries in March, ranking second with a 26.65 percent share, down 7.54 percentage points from 34.19 percent in February.

CALB saw a market share gain in March, as the company installed 2.86 GWh of power batteries in the month, ranking third with a 10.28 percent share, up 2.89 percentage points from 7.39 percent in February.

Gotion High-tech ranked fourth with a 4.51 percent share of 1.25 GWh installed in March, while Eve Energy ranked fifth with a 3.86 percent share of 1.07 GWh installed.

China's ternary lithium battery installed base in March was 8.7 GWh, accounting for 31.4 percent of the total installed base, up 6.3 percent year-on-year and up 29.8 percent from January.

Lithium iron phosphate (LFP) batteries accounted for 19.0 GWh or 68.5 percent of the total installed base, up 44.4 percent year-on-year and up 25.3 percent from January.

In the ternary Li-ion battery market, CATL ranked first with 56.99 percent of the total installed base of 4.97 GWh in March.

CALB and LG Energy Solution ranked second and third in the ternary battery market with 16.82 percent and 6.52 percent shares, respectively.

In the LFP battery market, CATL topped the list with 39.47 percent of the installed base of 7.51 GWh in March, the first time it overtook BYD in this market this year.

BYD was second in the LFP market with 7.40 GWh installed in March, with a share of 38.88 percent. In both January and February, BYD ranked first in this market, with shares of 51.52 percent and 49.37 percent, respectively.

CALB and Gotion High-tech ranked third and fourth in the LFP battery market with 7.29 percent and 6.20 percent shares, respectively.

Global EV battery market share in Jan-Feb: CATL 33.9%, BYD 18.2%

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Auto Show BYD China Electric eMobility eV Yangwang Yangwang U9

BYD Yangwang U9 supercar to make real-life debut at Shanghai auto show

Yangwang today shared three images of the U9 electric supercar and said the model will be on display at the Shanghai auto show starting April 18.  |  BYDDY.US | HK

(Image credit: Yangwang)

BYD (OTCMKTS: BYDDY) officially launched its premium Yangwang brand three months ago and unveiled two models for the brand. Now, one of the models is going to be presented at the Shanghai auto show in 10 days.

Yangwang today shared three images of the U9 electric supercar on its official Weibo account and said the model will be on display at the Shanghai auto show starting April 18.

The upcoming biennial Shanghai auto show will be held from April 18-27, with the press days from April 18-19 and the professional visitors' days from April 20-21, while the general public can enter from April 22-27.

Yangwang did not release more information about the U9, but these images show a few details, including the headlights, that are slightly different from when the model was unveiled in January.

BYD officially launched the Yangwang brand on January 5 and announced the hardcore SUV U8 as well as the supercar U9.

The Yangwang U9 will be priced in the RMB 1 million ($145,400) range and can accelerate from 0 to 100 km/h in less than 3 seconds, BYD said at the time.

Yangwang's research and development team used innovative technology to bring the U9 the ultimate safety body structure, capable of driving comfortably in the city as well as driving at the limits of the track, BYD said.

The U8, the first production model from the Yangwang brand, is a hardcore off-road SUV that is more than 5 meters long and 2 meters wide.

The model is capable of accelerating from 0 to 100 km/h in four seconds and will be priced at the RMB 1 million level.

It is not clear if the U8 will also be on display at the Shanghai auto show.

(1 $= RMB 6.8757)

BYD officially launches Yangwang brand, debuts hardcore off-road SUV U8 and supercar U9

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BYD BYD Seal China Electric eMobility eV

BYD offers extended, bigger discount for Seal

Between April 7 and April 30, consumers who purchase the Seal can receive a combined discount of up to RMB 31,000.

(Image credit: CnEVPost)

(OTCMKTS: BYDDY) offered discounts on the Seal and Song Plus during a price war in the Chinese auto industry a month ago and the benefits expired at the end of March.

Now, the new energy vehicle (NEV) giant has extended the offer on Seal and stepped it up.

Between April 7 and April 30, consumers who purchase the Seal can receive a combined discount of up to RMB 31,000 ($4,510), BYD announced today on Weibo.

Consumers who purchase the model now can receive benefits including an RMB 15,000 cash discount, an RMB 6,000 trade-in subsidy, and a 2-year zero-interest loan.

The BYD website currently shows the suggested retail prices of the Seal at RMB212,800 to RMB 289,800, the same as before.

On March 9, BYD announced that consumers who order the BYD Song Plus series in March will receive a discount of RMB 6,800, or RMB 8,800 for the Seal.

This is a limited-time marketing campaign valid from March 10 to March 31, BYD said at the time.

Information on BYD's website shows that the discount on the Song Plus series has also been extended to April 30, although the amount of the discount is the same as before.

BYD sold 207,080 NEVs in March, up 97.45 percent from 104,878 units in the same month last year and up 6.93 percent from 193,655 units in February, according to previously released data.

The BYD Seal sold 6,000 units in March, a decrease of 22.62 percent from February. The model sold 20,372 units in the first quarter, down 51.5 percent from the fourth quarter of last year.

($1 =RMB 6.8760)

BYD offers discounts for Song and Seal as China's auto price war intensifies

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BYD BYD Plant China Electric eMobility eV

BYD’s new plant in central Chinese city Zhengzhou goes into operation

Currently in production is the first phase of 's Zhengzhou base, with a planned annual capacity of 400,000 vehicles.  |  BYDDY.US | BYD HK

BYD (OTCMKTS: BYDDY) has officially started production at a new vehicle production site that begins contributing to the capacity of China's largest maker of new energy vehicles (NEVs).

The production site, located in Zhengzhou, Henan province in central China, saw its first production vehicle roll off the line on April 6, according to a report by a local TV station.

The project was signed in September 2021 and took 17 months to complete construction and go into production.

Currently in production is the first phase of the Zhengzhou base, which covers an area of 4,101 mu (2.7 square kilometers) and has a planned annual production capacity of 400,000 vehicles.

The production base will have phase II and phase III projects, and the total production capacity will exceed 1 million units after completion.

The first mass-produced vehicle to roll off the line from BYD's Zhengzhou base is a Song Pro DM-i, which has a guide price range of RMB 140,800 ($20,480) - 165,800 yuan.

Officials from the Henan provincial government, as well as BYD chairman and president Wang Chuanfu, attended the ceremony to mark the start of production at the facility.

The production base is expected to help BYD achieve its goal of selling at least 3 million vehicles this year. Wang has apologized several times over the past two years for the long wait times for BYD vehicles due to a lack of capacity.

BYD aims to sell at least 3 million vehicles this year and will strive to reach 3.6 million, Wang said at an investor conference on March 29.

For the 3.6 million sales target BYD is aiming to reach, 2.8 million in China and 800,000 overseas, Yicai said in a March 30 report citing an insider at the company.

BYD sold 1,868,543 vehicles in 2022, including 1,863,494 NEVs. The company stopped production and sales of vehicles powered entirely by internal combustion engines in March 2022.

If it can reach 3.6 million vehicles in global sales, BYD is expected to be among the top 10 car companies in global auto sales this year.

BYD aims to become China's No. 1 automaker by the end of this year, Wang said at the investor conference.

BYD sold 207,080 NEVs in March, up 97.45 percent from 104,878 units a year earlier and up 6.93 percent from 193,655 units in February, according to data released by the company earlier this month.

In the first quarter, BYD's NEV sales were 552,076 units, up 92.81 percent from 286,329 units in the same period last year, but down 19.22 percent from 683,440 units in the fourth quarter last year.

($1 = RMB 6.8752)

BYD aims to sell at least 3 million vehicles this year

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