New energy vehicle (NEV) output and sales from China's largest NEV manufacturer BYD hit record highs in 2024, exceeding 4mn units for the year.
BYD's NEV production rose by 41pc from a year earlier to 4.304mn units in 2024. BYD did not produce any gasoline-fuelled vehicles in 2024. The company stopped producing gasoline-fuelled vehicles since March 2022 to focus on manufacturing battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
BYD's NEV output in December increased by 41pc from a year earlier to 466,441 units, including 5,722 commercial NEVs and 460,719 passenger NEVs. The NEV output included 189,759 units of BEVs, up by 7.6pc from a year earlier, and 270,960 of PHEVs, more than double from a year earlier.
NEV sales in 2024 totalled 4.272mn units, up by 41pc from a year earlier, accounting for 100pc of BYD's total vehicle sales.
BYD sold 514,809 NEVs in December, up by 41pc from a year earlier. December sales included 5,369 commercial NEVs and 509,440 passenger NEVs. BEV sales were at 207,734 units, up by 8.9pc on the year, and PHEV sales totalled 301,706 units, more than double from a year earlier.
NEV production in China totalled 11.345mn units over January-November, up by 35pc from a year earlier. Sales rose by 36pc to 11.262mn units in the same period, according to data from the China Association of Automobile Manufacturers (CAAM). It expects China's total NEV sales to reach 13mn units in 2024.
BYD is also a major power battery producer. It installed 23.495GWh of power and energy storage batteries in December and 194.705GWh for 2024, up by 32pc and 29pc respectively on the year.
China's Contemporary Amperex Technology (CATL), BYD and CALB were the top three power battery manufacturers in terms of installed volumes in January-November 2024 at 211.7GWh, 117.5GWh and 32.3GWh respectively, accounting for 45pc, 25pc and 7pc of the country's total volumes, data from the China Automotive Battery Innovation Alliance (Cabir) show.
