BYD hits 15M NEVs

BYD has reached another production milestone after completing its 15 millionth New Energy Vehicle, a figure that includes both battery electric vehicles and electrified models.

The company marked the occasion this week with a simple ceremony at its factory in Jinan, China.

The Jinan plant began mass production three years ago and has since become part of BYD’s fast-expanding manufacturing network. Workers and executives gathered on site as the milestone vehicle rolled off the line.

That unit turned out to be the 15,000th example of the N8L, a six-seat sport utility vehicle from BYD’s premium brand, Denza.

The N8L represents the higher end of BYD’s lineup and reflects how the company now spans everything from entry-level electrified cars to large, technology-focused vehicles.

While Denza remains positioned above the core BYD range, the platform and powertrain behind the N8L draw from the same pool of in-house systems that underpin many of the group’s mainstream models.

BYD’s path to 15 million NEVs started in 2008 with the launch of the F3DM, widely recognized as the world’s first mass-produced plug-in hybrid.

Back then, electrified vehicles were still seen as niche products. It took the company 13 years to reach its first one million NEVs, a pace that reflected both limited demand and the early stage of battery technology at the time.

That pace has changed sharply since BYD said the jump from 10 million to 15 million cumulative NEVs took only 13 months. The 13 millionth unit left the production line in July last year, followed by the 14 millionth in October this year.

The latest milestone shows how quickly production has accelerated as electric and hybrid vehicles move closer to the mainstream in many markets.

The company’s overall output also continues to climb. For the first 11 months of 2025, BYD reported total vehicle production of 4.182 million units. That figure represents an increase of 11.3 percent compared with the same period last year.

Overseas sales reached 917,000 units over the same span, already exceeding the company’s full-year overseas total from 2024.

BYD now sells vehicles in more than 110 countries and regions. In Europe alone, the brand is present in 33 markets with around 1,000 points of sale.

The company said it plans to double that dealership count by the end of 2026 as it continues to build brand awareness outside China.

Investment has played a major role in that expansion. BYD said it spent RMB 43.75 billion on research and development in the first three quarters of 2025, up 31 percent year on year. Cumulative R&D spending has now passed RMB 220 billion.

These funds have gone into battery development, vehicle platforms, driver assistance systems, and faster charging technologies.

What began as a cautious step into plug-in hybrids nearly two decades ago has turned into one of the largest electrified vehicle operations in the world. The company’s next challenge now lies in sustaining that growth as competition intensifies and global markets continue to shift.