BYD adjusts targets: 20% EV growth in 2024, double its international sales

During an investor event, BYD shared its plans for this year and 2025. The company was previously aiming to ship 4 million NEVs this year, including plug-in hybrids and battery-powered cars. Yet, following the below-expectations performance in January and February it adjusted expectations to 3.6 million sales, which is still 20% higher than what it managed in 2023.

A big part of the growth will be overseas markets, where BYD sales in 2023 stood at 242,765, or about 8% of the total volume. This year, BYD hopes for 500,000 sales and in 2025 - 1 million. The Chinese manufacturer wants to bring its export shares to 14% this year, as long as the 3.6 million sales are reached.

The carmaker also confirmed it's about to release its fifth generation Dual Mode plug-in hybrid technology this May.

The new tech is promised to achieve 2.9 liters per 100 km on a depleted battery, while a full tank and a full battery charge would take you up to 1,240 miles, according to the Chinese CLTC test cycle.

The new tech should trickle down to the entire PHEV lineup, once manufacturing capacity allows for it - the company is still struggling to match demand.

Via