BYD’s July New Energy Vehicle Sales Up $222% YoY
Chinese electric vehicle firm BYD disclosed its July production and sales report on August 3. The company produced 163,358 new energy vehicles in July, a year-on-year increase of 221.70%, and sold 162,530 new energy vehicles, up 221.89% year-on-year, including 4,026 new energy passenger cars overseas.
This is the fifth consecutive month that BYD has sold more than 100,000 vehicles. In the first seven months of 2022, BYD’s cumulative production of new energy vehicles was 811,300 units, a year-on-year increase of 290.09%. Meanwhile, the cumulative sales volume was 803,900 units, up 292% year-on-year.
BYD’s total installed capacity of new energy vehicle power batteries and energy storage batteries in July was about 7.287 GWh, and the cumulative installed capacity in 2022 was about 41.329 GWh.
A number of Chinese new energy vehicle makers also released their July delivery data in early August, and the sales volume showed an upward trend year-on-year. Among them, the monthly sales volume of GAC AION, NIO, XPeng, Li Auto, NETA Auto and Leapmotor all exceeded 10,000 vehicles. However, on a monthly basis, the performance of these new energy car companies is somewhat divided. Deliveries of NIO, XPeng and Li Auto fell in July after a significant increase in June.
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In addition, BYD will further accelerate the internationalization of passenger cars in 2022, and will enter Europe and Israel in the second half of the year, following Japan. On August 2, BYD reached a cooperation with Shlomo, an Israeli automobile company, which is BYD’s commercial vehicle partner in Israel. This time, BYD further designated Shlomo as the national dealer to be responsible for the local sales and after-sales service of electric vehicles. The first batch of vehicles will arrive at Eilat Harbor, Israel in Q3.