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BYD Aims High with 3 Million Unit Sales Target for 2023

Chinese automotive giant BYD has set its sights on a significant milestone, targeting sales of 3 million units in 2023, with an ambitious stretch goal of 3.6 million units. This ambitious plan comes on the heels of a successful 2022, where the company sold 1.86 million units.

BYD's production capacity has been steadily expanding. The company passed the 1 million car production mark in May 2021 and surpassed 2 million units just six months later. By August 9th, 2022, BYD's production will reach 5 million cars.

A key contributor to this growth is BYD's plant in Thailand, which has an annual capacity of 150,000 units. This facility, which started production last year, plays a crucial role in BYD's strategy to avoid EU tariffs by exporting electric vehicles from Thailand.

BYD's global footprint is impressive, with nine manufacturing bases in China and additional factories in the USA, India, Hungary, France, Scotland, Uzbekistan, Hungary (future), Turkey, Brazil, and Cambodia (planned).

In April 2022, BYD became the best-selling brand in China, surpassing Volkswagen. The company's total current annual capacity exceeds 1.95 million units.

Despite the company's success, there have been no confirmed announcements about a BYD factory in India, and the rumors of a factory in France remain unverified.

One of BYD's most notable offerings is the electric Yangwang U9, which, according to the manufacturer, boasts a top speed of 472.41 km/h. However, it's important to note that this claim has not been officially recognized as a global EV speed record.

In the first seven months of 2022, BYD recorded 1,517,798 passenger vehicle sales, representing an 88.81% increase compared to the same period in 2021. Exports by BYD also saw record levels, with 92,458 units sold overseas.

BYD has announced plans to build one or two plants in Europe, although specific details about these projects are yet to be revealed. However, earlier estimates predict local sales of 3.5 million units and exports of 200,000 units in 2023.

Despite setbacks such as getting snubbed by the Indian government in its efforts to build a plant in the country, BYD continues to push forward, aiming to become a major player in the global automotive industry.

This article is sourced from dongchedi and sina.