Last year, Chinese vehicle manufacturer, BYD achieved a milestone by selling 3.024 million new energy vehicles, surpassing Tesla and claiming the title of the global new energy vehicle sales champion.
From “catching up” to “leading,” BYD’s journey represents a remarkable transformation within the Chinese auto industry, marking a “changing lanes and overtaking” miracle in the new energy track. China’s new energy vehicles continue to expand their global market share.
Last year, China’s new energy vehicle production and sales reached 9.587 million and 9.495 million, marking a 35.8 percent and 37.9 percent year-on-year increase. China has maintained its position as the world leader in new energy vehicle production and sales for nine consecutive years, with exports reaching 1.203 million, up 77.2 percent year-on-year.
The founder of BYD, Wang Chuanfu attributes these achievements to a commitment to manufacturing principles, accelerating the development of new quality productivity, and achieving high-quality development.
BYD understood the importance of new energy vehicles in national energy restructuring and environmental protection, launching its first new energy vehicle model in 2004.
By April 2022, it discontinued the manufacture of fossil fuel vehicles and intensified its investment in new energy. Today, BYD’s new energy passenger vehicles are present in over seventy countries across six continents, including Germany, Japan, France, and Brazil.
Continuous technological innovation fuels BYD’s progress. With 11 major research institutes and over 40,000 patents worldwide, BYD has introduced disruptive technologies such as blade batteries, DM-i super hybrids, e-platform 3.0, CTB battery-body integration, Yi Sifang, Yunnian system, and DMO super hybrid off-road platform.
Companies such as BYD, driven by innovation and long-term commitment, have paved the way for China’s automotive industry to “soar” in the new energy vehicle sector.
BYD’s rapid development is also attributed to its comprehensive industrial chain layout. With decades of innovation, BYD has excelled in core technologies across the entire new energy vehicle industrial chain. It stands out as the only new energy vehicle manufacturer independently developing power train systems, power batteries, drive motors, and motor controller systems.
In the future, more Chinese companies will anchor quality development goals, adhere to new quality productivity and create new momentum and new advantages for development.
China is willing to leverage its strong manufacturing capacity, seize the opportunities of global green transformation to contribute to Sri Lanka’s sustainable economic development, ushering in a new era of China-Sri Lanka cooperation. – Media release
