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China’s BYD Sets Sights on 2024: Aiming for 4 Million Electric Vehicles

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On March 11, 2024, China’s BYD announced that it had expanded its product lineup to five items by launching the Seal, Song Plus, and Qin Plus in the UAE market. These are plug-in hybrid electric vehicles following the battery electric cars Han and Atto3.

BYD launched Atto3 in the UAE market in June 2023 and Han in November.

BYD sold 3,024,417 electrified vehicles in 2023, a 62.3% increase from the previous year. Of these, 3,012,906 were passenger cars, and 11,511 were commercial vehicles.

BYD’s overseas sales in 2023 were 242,765 units, a 493.51% increase from the same period of the previous year.

BYD’s sales target 2024 was 4 million units, but it was revised upward to 2 million BEVs and 2.2 million PHEVs. They announced they would lead the growth by launching the next-generation PHEV and BEV platforms.

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