BYD Yuan Plus Electric SUV Launched in Mongolia

After commencing vehicle sales in Thailand, Laos, India and Nepal, Chinese new energy automobile giant BYD on October 16 joined hands with Mongolian dealer MSM Group to introduce the BYD Yuan Plus electric SUV to the domestic market.

BYD first entered the Mongolian passenger car market in 2020, selling many pure EVs such as the T3, Tang, Han and Dolphin models. It offers a rich product matrix, which has been favored by customers in Mongolia. BYD now has an 87% market share of Mongolia’s new energy vehicles and a 58% market share of the country’s pure electric vehicles.

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On October 17, BYD also debuted three electric vehicles – the Tang, Han and Yuan Plus (named the ATTO 3 in overseas markets) – at the Paris Auto Show. Its strategic partner, Shell, said that it would open the right to use about 300,000 Shell charging stations in Europe to BYD vehicle owners.

BYD new energy vehicles have now covered more than 70 countries and regions and more than 400 cities around the world, serving more than 2.6 million car owners. In September, BYD sold a total of 7,736 new energy passenger cars overseas, exporting cars to Japan, Germany, Sweden and other new countries and regions.

Its popularity in the market has driven BYD’s impressive performance of late. On the evening of October 17, a forecast released by the firm showed that in the first three quarters of this year, expected profits exceeded 9 billion yuan ($1.25 billion), nearly three times more than last year. Specifically, in the third quarter, the company expects the net profits after deducting non-recurring gains and losses to exceed 5.071 billion yuan – a record annual increase of about 10 times.

Covering the three major fields of automobiles, IT and new energy, BYD has formed comprehensive advantages by virtue of its technology accumulation and synergy among various sectors. The firm says it will continue to promote the industrial transformation from traditional vehicles to new energy vehicles.

The application scope of new energy vehicles will be extended from private cars, buses and taxis to conventional fields such as sanitation vehicles, urban commodity logistics, road passenger transport and urban building logistics. It will also explore four special scenarios such as warehouses, mines, ports and airports, so as to realize full coverage of road transportation by new energy vehicles.