Leading electric car manufacturer plans Vietnam factory, raising industry concerns
On January 3, producing one million vehicles in three months is an impressive production rate for BYD, especially considering that their one million vehicles include electric vehicles.
At the end of November 2023, BYD achieved the milestone of producing the world’s first six million electric vehicles. On average, the company manufactures over 11,000 vehicles per day.
The six million vehicles from BYD include pure electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV). Plug-in hybrid vehicles are classified under electric vehicles rather than gasoline vehicles because this category utilizes electric motors as the primary driving force, with the internal combustion engine serving to recharge the battery.
BYD’s main competitor, Tesla, currently stands at five million vehicles. It can be said that BYD, following its announcement to completely stop selling traditional internal combustion engine vehicles in April 2022, is experiencing its most explosive growth phase to date.
With a production rate of 1 million vehicles every 3 months, BYD’s annual production could soon reach 4 million vehicles per year, equivalent to Hyundai’s global output in 2022.
The 6 millionth vehicle produced by BYD is the relatively new Fang Cheng Bao Leopard 5, announced in August 2023. This model employs a plug-in hybrid structure centered around a 31.8 kWh battery pack. The electric-only range of the heart brings about 125 km of pure electric operation. This figure increases to a maximum of 1,200 km with support from the generator, which acts as an engine.
BYD currently sells electric vehicles in 58 countries and territories worldwide, despite their export volume being relatively limited (just over 200,000 vehicles). Including various urban public electric vehicle models, the company is present in more than 400 cities across 70 different countries.
The 6 millionth vehicle model from BYD, named Fang Cheng Bao Leopard 5, features a design that bears a resemblance to the new Toyota Land Cruiser Prado.
Nearly 30 years ago, BYD took its initial steps in electric battery production. It wasn’t until 2003 that their automotive division was established. Five years later, the company introduced its first electric vehicle lineup.
In 2021, BYD reached a milestone of producing 1 million electric vehicles. By 2022, they achieved the 3 million mark, and it took only 9 months to reach 5 million. On November 24, just three months after hitting the 5 million mark, BYD announced the production of their 6 millionth electric vehicle.
In Vietnam, BYD has plans to build an electric vehicle assembly plant. Vehicles manufactured in Vietnam will not only be used domestically but can also be exported to other countries in the region.
Source: CafeBiz | Link
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