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BYD reaches 150,000 commercial NEV production milestone as growth focus shifts to trucks

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BYD reaches 150,000 commercial NEV production milestone as growth focus shifts to trucks

BYD (HKEX: 1211) has reached a production milestone of 150,000 commercial new energy vehicles (NEVs), as the Chinese automaker shifts the growth focus of its commercial vehicle business toward trucks.

BYD's commercial vehicle division announced on Saturday that the Q3 electric semi-truck marking the milestone rolled off the production line at its truck plant in Huai'an, Jiangsu province, on October 9, capping 18 years of development.

The company said the Q3 is a key model in its push into long-haul transport and that it will increase investment in the long-haul heavy-duty truck market to expand its truck business.

Long distances and intensive operations place greater demands on charging efficiency, power and reliability, making long-haul freight a key market for commercial vehicle electrification.

The Q3 features a Blade Battery designed for commercial vehicles, peak motor power of 600 kW and support for dual-gun fast charging. BYD said these technologies are designed to meet the power and charging needs of heavy-load transport.

The production milestone comes as BYD's commercial vehicle sales continue to grow year-on-year, outpacing its overall NEV business.

BYD sold 6,848 commercial NEVs in September, up 113.33% year-on-year but down 0.88% from August, according to data compiled by CnEVPost.

Its commercial NEV sales totaled 53,032 units in the first 9 months of the year, up 28.46% year-on-year. Over the same period, the company's overall NEV sales fell 3.94% to 3,131,576 units.

BYD's commercial vehicle business began with city buses. It started truck research and development in 2012, gradually expanding its lineup into urban delivery, cold-chain logistics and long-haul transport.


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