BYD staff members with the company's 7 millionth new energy vehicle, a Denza N7, at its factory in Jinan, Shandong Province, on March 25. Photo from BYD

BYD Co. has become the first automaker in the world to have produced 7 million new energy vehicles (NEVs).

The Pingshan-headquartered firm said that its 7 millionth NEV, a Denza N7, rolled off the production line at its factory in Jinan, East China’s Shandong Province, on March 25. This marks a notable achievement for BYD and further cements its strong position in the NEV market.

This achievement comes less than three years after BYD hit a production milestone of manufacturing 1 million NEVs in May 2021. Hailing it as “a testament to the rapid development of green travel in the world,” BYD said this accomplishment signifies not only the accelerating growth pace of Chinese auto brands, but is “a perfect response to the transformation of the automotive industry.”

BYD’s sales of NEVs soared to 3.02 million units in 2023, solidifying its status as the global leader in NEV sales. The penetration of NEVs in China has now reached 48.2%, a historic high. BYD expects that rate to surpass 50% within the next three months.