BYD or Build Your Dreams has certainly been doing that. It pulled out of selling oil fueled cars at the beginning of 2022 which gave impetus to its electric and hybrid sales. The level of increase since is hard to comprehend but this is what happened.
In 2021 BEV and PHEV sales were 594,000 and oil fueled 136,000. For 2022 the former were up to 1.8 million, an astonishing 213% increase. 2023 and the total was 3 million, up 62%. The pace of increase is understandably slowing and so far in 2024 up to Q3, it's up 32% to over 2.7 million units.
Below is shown BEV sales to the left and then combined with HEV to the right covering three quarters of the year. I did them that way so that BEV sales could be compared with the likes of Tesla, a full BEV manufacturer.
Tesla has so far delivered nearly 1.277 million BEVs to BYD's 1,170 million. One difference in recent years is that while Tesla's volume is reasonably even through the calendar year, BYD increases through the year. If that happens again this year then BYD will take over as the largest BEV manufacturer. Does that matter? Bragging rights I suppose.
One point of interest is that BEV sales have been passed by HEV sales in 2024 and by some margin. That is a trend so not surprising but shows a benefit of not having all the eggs in the electric car basket. BEV volume is up just 12% but combined with HEVs, BYD that volume is then up 32%.
Data source: BYD.
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