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The EV Market Is Entering An Exciting Phase

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300,000 NEVs per month will mean that BYD will soon make the next million NEVs in just over 3 months. Tesla will also be ramping up production in Berlin and its other factories.

One of the first real mass production EVs, the Nissan Leaf, took about 10 years to produce and sell 500,000 units. Just the other day, VW announced that it has sold 500 000 of its ID series, one year ahead of schedule. It took VW just 2 years to sell half a million units of its ID electric vehicle models since their initial launch in 2020. The Tesla Model 3 production ramp and sales progress was even hotter. It took about 3 years for Tesla to sell.

Yesterday, BYD announced that it has now produced over 3 million NEVs. BYDs range of New Energy Vehicles is composed of battery-electric vehicles as well as plug-in hybrids. BYD stopped making full ICE vehicles earlier this year to focus only on its growing range of NEVs. BYD’s plug-in hybrids have fairly large battery packs using the Blade battery and therefore give good all electric range. BYD is exporting some of these to South America as well as other places.

BYD also released some interesting statistics. From the first BYD NEV to the 1 millionth NEV, production spanned over 13 years. BYD then went from 1 million to 2 million in just one year, which was even faster than the Model 3. Then this year BYD went from

 

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