On July 16 local time, the BYD Brazil factory welcomed a new development milestone.

On that day, the factory's 100,000th new energy vehicle officially rolled off the line, the model was BYD Seagull; at the same time, the number of employees on duty at the factory surpassed 5,500.

It is worth mentioning that,from the factory's production launch in July 2025 to the completion of the 100,000th new energy vehicle roll-off, it took only about a year.

This speed not only reflects the factory's rapid capacity ramp-up, but also reflects BYD's continuously growing competitiveness in the Brazilian market.

From factory construction to supply chain perfection, and then to driving local employment, BYD is truly rooting the new energy vehicle industrial chain in Brazil, and thereby promoting the development of local green transportation.

Relying on the localization strategy, the BYD Brazil factory maintains steady development, and continuously drives local industrial upgrade and employment growth.

Li Tie, General Manager of BYD Brazil Branch, stated that the Camaçari factory's leap-forward development is a direct reflection of the effectiveness of BYD's strategy to deepen its presence in the Latin American market.

"We are fully committed to building the Camaçari factory into a modern new energy industrial base for the future, while continuously releasing capacity and improving the local supply chain system, creating more high-quality local jobs, continuously amplifying the social value of new energy industry implementation, and assisting Brazil in the green transportation transformation and upgrading."

Apart from the breakthrough in capacity, the employee scale exceeding 5,500 is also an important part of this milestone.

Compared to the initial phase of the factory's production, the continuously expanding employee scale today also means that BYD's localized manufacturing is moving from 'building factories' to 'building industries' into a new stage.

Ednei dos Santos Silva, the 5,500th employee to join this time, is a microcosm of BYD driving local employment.

He personally witnessed the gradual decline of the local traditional automobile industry, and also witnessed the industrial park losing vitality at one point, therefore he is deeply touched by BYD's arrival.

He stated that after BYD landed,not only reactivated the local industry, but also brought stable development opportunities to more and more residents.

"This is a brand new starting point in my career, allowing me to stably fulfill family responsibilities and continuously improve professional skills, taking root and growing on the land of my hometown, building the future together. Witnessing Camaçari regain industrial vitality and rediscover development dreams, I feel extremely honored."

In fact, for a global automotive company, building factories overseas does not merely mean increasing capacity, the more important thing is whether it can truly integrate into the local market.

The dual milestone of achieving the 100,000th new energy vehicle roll-off and surpassing 5,500 employees this time not only reflects the BYD Brazil factory's rapid construction speed and stable capacity output capability, but also means that its strategy of building a core new energy industrial base in South America is further being implemented.

Compared to simply achieving a capacity breakthrough, what is more worth noting is that BYD is focusing on localized manufacturing as the core, combining its global layout with local industrial development.

By continuously creating jobs, perfecting industrial chain support, promoting green travel, etc., transforming the company's development momentum into long-term power for Brazil's industrial upgrade, livelihood improvement, and green transformation, and also further deepening the cooperation between China and Brazil in the new energy vehicle industry field.

In recent years, BYD's overseas layout has accelerated significantly.

Currently, the company's new energy vehicles have entered more than 100 countries and regions worldwide, and are continuously promoting localized manufacturing in markets such as Brazil, Thailand, and Hungary.

In the first half of this year, BYD's overseas sales were about 790,000 vehicles, an increase of over 70% year-on-year, overseas sales volume accounts for more than 40% of total new energy vehicle sales, the international market is becoming a new growth engine for the company.

With the Brazil factory welcoming the 100,000th new energy vehicle roll-off, BYD's globalization strategy is also entering a new stage of continuous result realization.

Recently, two rumors about BYD overseas spread widely online: Australia imposed a 50 million Euro fine, Turkey sales almost collapsed. Many netizens sighed after reading, saying BYD's overseas journey is becoming harder. But breaking down the whole matter, online content contains much exaggeration. However, through these two incidents, we can clearly see that domestic automakers' overseas expansion is far less easy than we imagined.

First, regarding the Australia incident, the rumor of a 50 million Euro fine itself is false; the actual upper limit is 50 million AUD. The cause of the whole matter is helpless, purely a low-level mistake by BYD's local Australia team. When staff entered data, they mistakenly treated the vehicle manufacturing time as the whole vehicle production time. 1265 cars produced in 2025 were registered as 2026 models.

To be fair, this batch of cars had no issues with hardware configuration or safety standards; the vehicles themselves had no quality defects. However, the car buying environment in Australia is different from domestic. Production year directly determines used car residual value and insurance pricing. If the model year is marked incorrectly, owners will definitely suffer selling cars after a few years. When the incident just broke out, BYD only offered 1100 AUD compensation per car, owners all disagreed, local media reported in turns, public opinion pressure came. Forced by the situation, BYD adjusted the plan: owners can return cars for full refund, change to new model, or take compensation and keep using.

Only if all owners choose to return cars will BYD incur costs amounting to 240-280 million RMB. The reality is many owners chose to take money and keep cars, so the final actual cost is far from the exaggerated online reports. This money is active compensation from BYD to owners; local regulatory authorities have not yet issued a fine. Even with this storm, BYD remains the second in Australia new energy sales, only behind Toyota, the basic market share has not shaken.

Then let's talk about the Turkey market. In the past two years, BYD was very prominent locally. In 2024, BYD promised to spend 1 billion USD to build a factory in Turkey. The Turkish government provided generous benefits, waiving 40% additional tariffs and $7,000 per vehicle tax. Relying on huge price advantages, in January 2026, BYD sold 3,866 cars in a single month. Later, BYD prioritized the Hungary factory landing, pausing the Turkey factory plan. According to the signed agreement initially, Turkey directly cancelled tariff privileges, and could even collect previously waived taxes. After benefits disappeared, sales plummeted, June only sold 83 units, down 98.8% year-on-year.

Everyone should not mistakenly think Turkey specifically targeted BYD. In the first half of 2026, Turkey's overall auto market declined 11.44%, all Chinese brand overall sales declined 39.6%. Chery completed localization layout early, so the impact received was small. Simply put, BYD's huge sales drop was caused by the loss of tariff benefits, leading to car price increases.

But everyone, do not discredit BYD's overseas layout based on just two incidents.

Previously, we naively thought if cars were built sturdy and configurations were sufficient, selling abroad would not worry about sales channels. After these two incidents, I realized overseas markets are full of hidden tricks. Foreign welfare policies are never given for free; Turkey is a living example. Benefits are bound to factory building tasks. As long as your landing progress does not meet agreed conditions, the received policies are taken back instantly, showing no mercy.

The Australia incident further sounded an alarm for us; foreign local regulations are too strict. A simple date entry error, not because car quality is bad, could force the automaker to pay hundreds of millions. In the future, European carbon tariffs and anti-dumping measures will land successively, the cost of our domestic cars going overseas will only get higher.

Objectively speaking, BYD's overall overseas performance is not bad. Southeast Asia, Brazil, Hungary, Thailand market sales continue to rise, European major countries' market development momentum is also quite good. This Australia flip, the root cause is still overseas local team carelessness, domestic HQ oversight of overseas branches insufficient, management friction appeared loopholes, it is not that the cars themselves are not good.

And in my opinion, domestic cars going overseas have now bid farewell to the era of low prices and high volume. We have full confidence in car building now, but operating overseas markets, we are still novices. In the future, it is not just core mechanical components and Intelligence these hardware strengths that compete. Understanding local policies and regulations, managing overseas employees, thoroughly understanding local people's consumption habits, all are compulsory courses.

BYD's current losses have also warned domestic automakers like Great Wall, Geely, NIO preparing to dig deep into overseas markets. Going abroad cannot just focus on making cars, must not ignore detail management. Only by calming down to familiarize with local rules and doing overseas operations solidly, can our domestic cars stand firm overseas. This road cannot be rushed.

Gasgoo learned that recently, BYD reached an important milestone in the Thailand market, with cumulative deliveries of new energy vehicles officially exceeding 130,000 units. At the same time, the BYD Thailand factory located in Rayong Province WHA Industrial Park celebrated its second anniversary of production, and the new model BYD SEALION 5 DM-i was also officially released.

Image Source: BYD

The BYD Thailand factory is its first overseas passenger car production base, with a designed annual production capacity of 150,000 units. Currently, the factory has achieved localization production for five models: BYD DOLPHIN, BYD ATTO 3, BYD SEAL 5 DM-i, BYD SEALION 5 DM-i, and BYD SEALION 6 DM-i, and all have obtained the "Made in Thailand" (MiT) certification issued by the Federation of Thai Industries.

In two years since production started, BYD in Thailand has continuously deepened its localization development, with significant results: the factory has cumulatively created over 5,000 job positions, Thai employees account for about 93%, and the local parts procurement ratio has reached 50%. This marks that BYD has deeply integrated into the Thailand automotive industry chain, effectively driving local collaborative development.

At the event, BYD delivered the 130,000th new energy vehicle to Thai consumers, the model being BYD SEALION 5 DM-i. The pre-sale price for the Standard version of this model was announced simultaneously, which will further enrich its DM-i product matrix.

In the first half of 2026, approximately 630 new cars were launched in the Chinese market, while domestic passenger car sales slipped by 20% year-on-year during the same period.

Amid such a severe market environment, BYD still continues to receive good news: sales in June exceeded 400,000 units, setting a new record for the year; in July, the 17 millionth new energy vehicle rolled off the production line at the Xi'an factory; subsequently, BYD, Denza, and Yangwang showcased their brands at the Goodwood Festival of Speed in the UK... Whether in terms of market performance, growth rate, or international influence, BYD continues to lead the industry.

A string of standout performances proves from one perspective that the positive cycle system constructed by BYD, with technology as the flywheel, scale as the foundation, and ecosystem as the barrier, is profoundly reshaping the competitive landscape of the global automotive industry.

Behind the 17 million units, technological innovation is the underlying logic

From the 16 millionth unit to the 17 millionth unit, BYD took less than 3 months to refresh the mass production record of the new energy vehicle industry at the fastest global speed, also verifying the sustainability of its development model.

Technology is King, Innovation is the Foundation is BYD's core philosophy that has been long adhered to. As of now, BYD's cumulative R&D investment has exceeded 250 billion yuan, forming a positive cycle of Technological Innovation — Product Landing — Scale Feedback — Iterative Upgrade, and systematically enhancing the global competitiveness of China's new energy vehicle industry.

In March this year, BYD officially joined the International Automotive Task Force (IATF), becoming the first Chinese automaker to enter the top-level global automotive standard-setting system. In the BrandZ Most Valuable Global Brands list released in May, BYD ranked 5th among global automotive brands with a brand value of 20.362 billion USD, a year-on-year increase of 41%, and the highest growth rate among global automakers for two consecutive years.

In March 2026, BYD released the second-generation Blade Battery and Flash Charging Technology

In terms of core technologies, BYD has concentrated the release of achievements such as the second-generation Blade Battery and Flash Charging Technology, Di Tian Zhi Yan 5.0, and the self-developed intelligent driving chip "Xuanji A3" within this year. 9 minutes to full charge, intelligent parking, and dual assurance for urban navigation" solved the pain points of users' energy replenishment anxiety and reluctance to use intelligent driving, also becoming a vivid footnote to BYD's Technology is King.

Volume and Price Surge Together Verify Development Effectiveness

The model that rolled off the line as the 17 millionth vehicle of BYD is the brand new flagship Seal 08 from the Ocean Network. The new car possesses advanced product strengths such as Flash Charging Technology, Dual Assurance for Intelligent Parking, 905km Pure Electric Range, DiSus-A plus rear-wheel steering, and is a heavyweight work in BYD's 200,000 yuan sedan market.

Large Flagship Sedan Value Benchmark — Seal 08

In terms of premiumization, BYD has achieved step-by-step market penetration through gradient brand segmentation, building a massive product matrix with comprehensive coverage and complementary positioning from mainstream household to million-level price bands.

In the first quarter of this year, BYD's average vehicle price per unit has reached 160,000 yuan, ranking among the forefront in mainstream automakers; the gross profit margin of the automotive business recorded 23%, setting a new high in nearly a year.

Technology Luxury Flagship MPV — Second Generation Denza D9

Especially in June, sales of the three high-end brands Fangchengbao, Denza, and Yangwang increased by 62% year-on-year, with Denza's monthly sales exceeding 20,000 units for the first time, fully demonstrating the effectiveness of BYD's multi-brand matrix.

The BYD Model of Eco-System Going Global

Currently, Going Global has become a consensus in the automotive industry. For BYD, going global is not merely product export, but outputting a complete technology system and brand value. Its core strategy is deep localization and building a win-win ecosystem.

In South America, with the Brazil factory as the core, BYD has built a localized production and supply chain system, driving local employment, tax revenue, and industrial chain development to achieve two-way win-win. In Europe, BYD's Hungary factory will officially start production in the fourth quarter of this year; in Southeast Asia, the Thailand factory is already in production, and the Indonesia factory is about to mass produce. At the same time, BYD has also completed intelligent driving R&D and technology layout in major overseas markets.

Denza Z Launched in the UK, Top Trim Price Approximately Equivalent to 1.58 Million Yuan RMB

In fact, the overseas market has already opened a second growth curve for BYD. In 2025, BYD's overseas sales exceeded 1 million units for the first time. In the first half of this year, BYD's overseas market cumulative sales approached 790,000 units, a significant increase of 68% year-on-year, and the annual overseas sales target of 1.5 million units is also expected to be exceeded.

Conclusion

With the boost of synergy between premiumization and internationalization, BYD continues to bring new technology breakthroughs to the industry.

Behind all of this is still BYD's continuously self-reinforcing positive cycle system — Technology empowers products, products drive scale, and scale feeds back technology.

BYD officially announced the latest overseas market data on July 12. The brand's cumulative new energy vehicle deliveries in the Thailand market officially exceeded 130,000 units. Coinciding with the second anniversary of BYD's Thailand CKD factory production launch, the event also saw the regional premiere of the new model BYD SEALION 5 DM-i. With the dual achievements of a sales milestone and a new car launch, the brand's deep foundation in the Southeast Asian market was verified. During the offline delivery ceremony on the day, the commemorative 130,000th new energy vehicle was the newly released SEALION 5 DM-i. The vehicle was delivered to well-known Thai film and television actress Usa Sencan. She became well-known to locals for her role as Grandma in the film A Letter to Grandma. Selecting a popular local actor as the milestone owner effectively narrows the distance between the brand and local ordinary consumers, further shaping a brand image that fits local Thai life.

BYD Thailand factory is located in Rayong Province WHA Industrial Park, which is also the brand's first overseas passenger car production base globally. The factory's planning and design annual production capacity is 150,000 units. Since production launch, the factory has steadily promoted the localization process of whole vehicle manufacturing. Five main models have been locally produced. The product matrix covers compact pure electric sedans, city pure electric SUVs, and multiple household plug-in hybrid SUVs, namely DOLPHIN, ATTO 3, SEAL 5 DM-i, SEALION 5 DM-i, SEALION 6 DM-i. They comprehensively cover mainstream commuting and multi-person family travel needs in the Thailand market. These five locally produced models have successfully obtained the MiT Thailand Made Certification granted by the Thailand Industrial Federation (FTI). This certification is a key qualification for local new energy vehicles to enjoy car purchase subsidies and tax preference. At the same time, it represents that the whole vehicle manufacturing process and parts supply standards perfectly fit local Thai industrial specifications, which can effectively control terminal selling prices and enhance product competitiveness in the local market.

Reviewing the factory's two-year development journey, BYD's sales growth momentum in Thailand has been very rapid. In November 2025, the factory completed the delivery of the 70,000th whole vehicle. The delivery model was SEALION 6, and the owner was an excellent local employee of the factory, Pattaraporn. In just eight months, the cumulative market delivery volume climbed from 70,000 units to 130,000 units, adding 60,000 new deliveries, which intuitively reflects that Thai consumers' acceptance of new energy vehicles continues to improve. Charging facilities distribution for new energy vehicles in Southeast Asian cities is uneven. Long-distance travel with pure electric models often faces power replenishment difficulties. BYD's mature DM-i super hybrid system happens to solve this pain point. Short-term commuting relies on pure electric mode to reduce vehicle usage costs, while long-distance travel relies on the fuel system to eliminate range anxiety. This power technology adapted to regional travel scenarios is the core factor for continued strong sales of several hybrid SUVs under the brand.

Beyond production capacity and sales growth, BYD Thailand factory continues to promote supply chain and talent localization construction. During the two-year production launch, the factory created a large number of local jobs. The proportion of Thai employees in grassroots and technical positions exceeds 90%. At the same time, the local parts procurement ratio continues to be improved, driving the synchronized development of Thailand's local auto parts supporting industry, and helping the local industry to improve the new energy vehicle upstream and downstream industry system. The official launch of the SEALION 5 DM-i this time further perfects the brand's compact hybrid SUV product line, which can compete head-on with local mainstream fuel and hybrid models, enriching Thailand consumers' new energy vehicle purchasing choices.

From the landing of the first overseas whole vehicle manufacturing base to exceeding 130,000 deliveries in two years and five models achieving local mass production, BYD has firmly occupied the mainstream position in the Thailand new energy market by relying on the local production model and hybrid products tailored to regional travel needs. Relying on mature overseas manufacturing bases and a complete product layout, the brand will continue to launch new models in the future, continue to dig deep into the ASEAN market, use Thailand as a fulcrum to radiate the entire Southeast Asia, continuously improve the overseas influence of Chinese new energy vehicle brands, and provide reliable solutions for green transportation transformation in the Southeast Asia region.

July 8, BYD's 17 millionth new energy vehicle rolled off the line at the Xi'an factory. From 16 million to 17 million, it took less than 3 months. Average daily production exceeds 12,000 units.

17 million units, what concept is this? Over a century of global automotive history, no new energy vehicle manufacturer has ever reached this scale. More crucially, from the first million taking 13 years to now adding another million in just over 80 days—this acceleration curve is truly staggering. This is not just a leap in production and sales data, but also creates a new benchmark for the development of the global new energy industry.

Many think BYD just rode the wave of new energy policy benefits. But can policy benefits explain the production ramp-up of a million units in three months? Can it explain the overseas growth rate of 789,000 units in half a year, up 68% year-on-year? Can it explain a Chinese carmaker beginning to export technical standards to the globe?

Obviously not.

What truly supports this number of 17 million units are three core capabilities that are hard for others to replicate.

First: Full-stack independent research, from "being bottlenecked" to "holding in hand"

BYD's technology route has never been single-point breakthroughs, but rather full-stack independent research.

In March 2026, the second-generation Blade Battery and Flash Charging technology were released. Fully charged in 5 minutes at room temperature, 9 minutes full, plus only 3 minutes at minus 30 degrees — overcoming the "slow charging" and "cold weather charging difficulty" two major global problems in one go.

In May, China's first 4nm process smart driving chip "Xuanji A3" mass-produced, three-chip collaborative computing power exceeds 2,100 TOPS. Same month, BYD took the lead in promising to guarantee city pilot safety for 1 year, all series available with Sky's Eye B Laser version.

From battery, motor, electronic control to chips, smart driving, chassis, BYD achieved full-link independent controllability from upstream lithium mine resources to downstream complete vehicles. Core link independent R&D and production rate exceeds 90%.

Others build cars by assembling supply chains, BYD builds cars from mine to complete vehicle one-stop. Once this system runs smoothly, it is a moat others cannot copy, and also the bottom-line support for BYD pushing the new energy industry to a new height.

Good technology is just a premise. What makes BYD truly amazing is that — these core technologies are not used for "showing off skills". Sky's Eye standard equipment across series, city pilot and smart parking "safety double guarantee", making good technology accessible to everyone. The 17 million units data proves that domestic suppliers already possess global competitiveness in automotive-grade certification, yield control, and cost optimization.

Technology is not used for enshrinement, but for popularization. This is what defining standards should look like.

Second: Vertical integration, from "subject to others" to "self-sufficient"

BYD is not only a complete vehicle manufacturer, but also a vertical integrated supply chain giant. Its subsidiaries such as FinDreams Battery, FinDreams Power, BYD Semiconductor, etc. constitute a complete domestic Tier1 camp.

What is the direct result brought by this model? Core component costs are more than 33% lower than the industry average.

In the early days of global chip shortage and raw material price increase cycles, peers reduced production and stopped work, BYD production capacity was almost unimpacted. When others were bottlenecked by supply chains, BYD quietly built cars. When others were still grabbing chips, BYD had already designed its own chips.

17 million units rolled off the line is not only a victory for the complete vehicle factory, but also a production volume landmark for the domestic supply chain. From second-generation Blade Battery to Sky's Eye smart driving, autonomous controllability and mass production delivery capability of core components have become the industry moat. This fully industry chain autonomous controllability system is itself a new height that the new energy industry can reach.

This model allows cutting-edge technology to quickly trickle down to all series models, no need for high-end cars to exclusively occupy core configurations. Seal 08 sells from 196,900 starting, but equipped with DiSus-A, rear-wheel steering, 905km range, flash charging, smart driving double guarantee — 200,000 RMB car, million-level configuration.

This is not a price war, this is a system war.

Third: Globalization, from "product going overseas" to "standards going overseas"

In the first half of 2026, BYD sold 789,000 units overseas, up 68% year-on-year, overseas sales proportion exceeds 43%. June single month exports 175,300 units, creating a new historic high.

But more noteworthy than sales volume is the layout. Thailand, Brazil factories already mass-produced, Hungary, Indonesia factories to start production in 2026. From Southeast Asia to South America to Europe, a localized manufacturing system covering Asia, Europe, and Africa is taking shape.

More crucially — BYD is simultaneously exporting charging standards. Scale implementation of Flash Charging stations overseas at the end of 2026, from "Flash Charge China" to "Flash Charge Planet". Domestic has already built 7,018 Flash Charging stations, covering 325 cities, end of year target 20,000 stations.

Before it was Chinese cars chasing others' standards. Now it is others considering whether to connect to China's charging standards. This role shift is the most worthy of discussion behind 17 million units.

Final Thoughts

Xi'an is the place where BYD's car building dream started. 2003 first car rolled off the line, 2008 global first plug-in hybrid born, to today 17 millionth new energy vehicle rolls out from here.

17 million units is not just cold production capacity numbers, but also a landmark node for Chinese carmakers turning from policy followers to technology definers. From the depth of technology self-research, to the breadth of vertical integration, to the speed of global layout, BYD used a complete system capability to turn 17 million units from numbers into confidence, pushing the Chinese new energy industry to an unprecedented new height.

This is not only a milestone in production and sales volume, but also a new starting point for a Chinese carmaker to export standards and rules to the globe.

#BYD17MillionthNewEnergyVehicleRolledOffLine#

In the first half of 2026, cumulative retail of passenger cars in China's automotive market reached approximately 8.75 million units, a year-on-year decline of about 20%; meanwhile, new energy penetration rate broke 63% in May to set a historical high, and climbed further to about 63.6% in June.

The overall market downturn and structural upgrade running in parallel can be said to be the theme of this half-year; against this backdrop, true new energy top players are beginning to surface.

BYD, with 1.7774 million units in sales, continues to top the sales list; Geely Auto follows closely, with cumulative sales of 1.423 million units in the first half of the year, setting a new historical high for the same period, with the two companies combined taking about 38.7% of the new energy market share in China. More than one-third of new energy vehicles are either made by BYD or Geely.

At this point, the "Two Supers and Many Strong Powers" new energy market structure has been formed, and the top two automakers are widening the gap with the followers. Many automakers have fought in the new energy market for so many years; the elimination round is approaching its end, the market share of domestic brands has exceeded 73%, and the "Hegemony War" of China's new energy market has basically been locked between these two companies.

BYD and Geely are seizing territory with different paths respectively; one is a strong hand at integrating the industry chain, and the other is a skilled hand at organizing the system. In this "Hegemony Battle", will it ultimately end with two strong heroes standing together, or will someone seize power at once?

# BYD and Geely, Leaving Followers Far Behind? #

Stretching the timeline to 2025, the basic outline of China's new energy vehicle market structure was already apparent.

BYD, with 4,602,436 units of new energy vehicle sales for the full year of 2025, a year-on-year growth of 7.73%, among which pure electric vehicle sales were 2.2567 million units, surpassing Tesla for the first time to become the annual sales champion of pure electric vehicles globally. The domestic new energy vehicle market share exceeded 35%, and the full-year sales of 2025 entered the global automotive group sales top five for the first time.

Geely, with 3.0246 million units in sales for the full year of 2025, breaking 3 million units for the first time, up 39% year-on-year. New energy sales exceeded 1.68 million units, up 90% year-on-year. Full-year revenue was 345.2 billion yuan, up 25% year-on-year. Core net attributable profit was 14.41 billion yuan, up 36% year-on-year.

Entering the first half of 2026, BYD reached 1.7774 million units (down 15.9% year-on-year), Geely 1.423 million units (up about 1% year-on-year). Still the top two in domestic sales. From the market share perspective, the China new energy passenger car market in the first half of 2026 was about 5.5 million units. BYD's share was about 32.3%, Geely's share was about 14.5%.

One could say that in China's new energy market, these two brands took nearly half of the market. You should know that six years ago, Geely's new energy proportion was in single digits, and BYD was far from forming the scale it has today. At this point, the pattern of China's new energy market has basically been set, with multi-brand chaos evolving into "Two Giants and Multiple Strong Contenders".

# Scale and System: Which is the Key to Seizing Market Hegemony? #

Why is it BYD and Geely that can form dominance in China's many new energy brand markets with so many cars, plus policy support?

Let's look at BYD first. Currently, its biggest moat is its massive scale. This scale not only protects itself but also blocks the invasion of competitors. So where does this scale come from?

At the beginning of the development of China's new energy market, it could be said to be a complete blue ocean. At that time, even large global automotive groups dared not easily get involved. After all, this is a fundamental energy transition. Entering this market means that the profit model, production and manufacturing system, and product definition model of the previous fuel car era must be completely started from scratch. Not only must time costs be paid, but an economic account must also be calculated.

But in China, there is an undeniable point, which is the support of policy direction. BYD is able to become the current hegemon of the new energy industry because it also bet on the direction of policy. Under the decision to go ALL IN on new energy, it successfully became the first Chinese automaker to conquer the new energy market, thereby helping itself quickly take a large share of the market.

On top of this, through the path of vertical integration, from lithium mining to battery manufacturing, from chip design to vehicle production, BYD itself has built a complete industry chain closed loop.

Its advantage lies in that even if the industry's overall profit margin is only 3.2% now, BYD can still press down costs by self-producing batteries, self-producing chips, and self-producing electronic controls. In 2025, why BYD was able to reach a 35% market share in the domestic market, it relied on "others cutting prices, and I can still make money".

So at this time, this first-mover advantage combined with cost control can give it the initiative in market competition, not being led by the nose by other opponents, but making itself the person who moves first. When grasping the initiative, it will be more at ease in the market, thereby quickly forming scale expansion.

But historical experience shows that when scale expansion reaches a certain extent, it will naturally slow down or even decline. Even as strong as BYD has not escaped this law. In the first half of this year, its sales saw a decline, and the market sales of main models such as Song PLUS, Qin PLUS, and Seagull saw a year-on-year decline.

When the price war dividend has fully receded, simple price strategies are difficult to form differentiation barriers. Wang Chuanfu admitted at the shareholders' meeting: Current technology leadership is not as good as in previous years, the market wow factor of technological results has decreased, and industry homogenization characteristics are becoming increasingly obvious.

For this, in June 2026, BYD launched the largest scale organizational reform of its vehicle business since its inception, reorganizing the four brands Dynasty, Ocean, Denza, and Fang Cheng Bao into independent operating units, implementing independent accounting and bearing their own profit and loss. The R&D system was reconstructed into "Group Technology Middle Platform + Brand Research Institute". The purpose is very clear: after achieving expansion, gradually shifting from "scale driven" to "profit and efficiency driven".

Let's look at Geely. Its play is completely different from BYD. It does not build a wall with one industry chain, but uses a set of system structure to deploy.

The foundation of such a system is built under Li Shufu's "One Geely" strategy. Closing redundant entities, integrating R&D, procurement, and intelligent resources, the Qianli Haohan Intelligent Driving System is reused across brands. This unified technology base, relying on brands to form product differentiation, is forming the late-mover advantage of traditional large factories against rapid iteration and price wars.

Specifically, Geely Galaxy undertakes the task of high-volume market mainstream new energy vehicles, with cumulative sales of 519,793 units in the first half of the year; the China Star Series stabilizes the fuel car base, with cumulative sales of 580,580 units in the first half of the year; Zeekr raises brand premium with an average price of 350,000 yuan, delivering 178,300 units in the first half of the year, up 97% year-on-year; Lynk & Co covers both high-end new energy and overseas expansion.

This division of labor where each fulfills its duty allows Geely to maintain the healthiness of its own brand development in the background of the increasingly fierce price war in China. Reflected in the data is that the core net profit per vehicle in the first quarter reached 6,429 yuan, up 30% year-on-year, with the gross margin rising to 17.5%. In the context of the industry generally declining by over 20%, this performance has a certain persuasiveness.

And Geely's product layout is quite targeted. It seized the most high-volume market from 100,000 to 200,000 yuan, relying on the dense coverage of products and the full coverage of power types. This point has a strong effect on improving consumer awareness. Among them, Geely Star Wish one car contributed 34.6% of group sales.

At the same time, the overseas market is becoming Geely's second growth curve. Exports in the first half of the year were 474,200 units, up 158% year-on-year, already exceeding the total export volume of the whole year of 2025; new energy product exports were 277,200 units, up 585% year-on-year. Exports in June broke 100,000 units for the first time. Currently, Geely has raised export targets to 1 million units twice consecutively.

Combining the above content, we can see that BYD's scale gives it enough exposure in the market, and this scale effect can also bring a certain positive impact to the brand. Meanwhile, facing the current bottleneck of scale development to a certain extent, BYD is also starting to delegate authority to consider efficiency issues, seeking to allow each sub-brand to respond to the market more flexibly.

Under the background of Geely's "One Geely" strategy, scattered resources have been concentrated again. It carries out targeted layout of different markets according to the different positioning of its sub-brands. While reducing internal friction, it is also easier and more accurate for consumer groups to see Geely products in the corresponding market, thereby driving sales growth.

Although these two paths are different, the purpose is one, which is to improve its own competitiveness in the existing market. The Chinese automotive market has long entered a saturation status. So at this time, being able to live better here relies on scale and system capabilities. This point, through the examples of BYD and Geely, can verify the correctness of this development model. Although they are in a competitive relationship in the market, their development models start from different paths and end at the same destination.

Except for the domestic market, the overseas market is becoming a factor that determines the pattern of the two strong ones. Interestingly, BYD and Geely, the sales champions who took different routes in the domestic market, still have two different paths in their overseas layout.

BYD took the heavy asset wholly-owned route, building its own factories in Brazil, Thailand, Hungary, etc., intending to maintain technical and management autonomy. The Thailand factory is the only overseas full-process factory currently in production. The Hungary factory will be put into production in Q2 2026. "Local production + domestic exports" jointly improve delivery flexibility.

Geely took the light asset synergy route, cutting into local manufacturing and channels by leveraging existing cooperation networks such as Volvo, Proton, Renault, etc. Acquiring Ford's Valencia plant production line in Spain, signing Swiss distributor Emil Frey. This model avoids the heavy asset burden of large-scale self-built factories.

The two routes have pros and cons. BYD's wholly-owned model can守住 technical sovereignty, but the capital pressure is huge and implementation is slow; Geely's synergy model can quickly pave the way, but it has a high dependence on cooperation partners and weak brand control. From the data in the first half of 2026, Geely's export growth (157%) was higher than BYD's (70%), but BYD's overseas sales absolute value (789,400 units) still leads Geely (474,200 units).

Subsequently, the performance of these two giants in the overseas market may become a key factor affecting their overall brand development. Under the background of the EU IAA Act locking foreign shareholding at 49%, Geely's joint venture synergy model may face lower policy compliance costs, while BYD's wholly-owned route may face greater institutional barriers.

# Top Structure Established: Can Followers Replicate the Success Path? #

When the market has a successful template, naturally others are like copying. So can BYD and Geely's development model be replicated?

BYD's vertical integration is built on more than twenty years of deep cultivation in the industry. Starting from batteries to vehicle manufacturing, this is a road that cannot be done quickly. CATL is a battery giant, but it doesn't make cars; Nio and Li Auto are new car-making forces, but they don't produce batteries. To keep the whole industry chain in hand, it requires time, capital, and strategic resolve. All three are indispensable.

Geely's systematic capability is built on the long-term accumulation of multi-brand acquisition and integration. Volvo, Proton, Lotus, Polestar, etc., these brands were not bought overnight; it is the result of a ten-plus-year continuous layout. Without this "brand pool", the "One Geely" strategy loses the foundation of synergy. New entrants only have one or two brands, and traditional automakers mostly have only one main brand. None have the conditions for Geely's "multi-brand matrix synergy".

So, saying it is that these two roads, BYD and Geely can walk, does not mean others can too. So is there another way to squeeze into the camp of China's new energy "Strong Ones"? Let's see how subsequent followers respond.

Currently, relying on brand premium and single-model efficiency are the general tactics of most market followers. Among them, Tesla and Xiaomi are considered two representatives.

From the brand statistical scope, the new energy brands ranked behind BYD and Geely are Tesla. In the first half of 2026, Tesla's China domestic market retail sales were approximately 325,000 units. If referring to the total delivery volume of the Shanghai Gigafactory (including exports) in the first half of the year, it was 468,000 units.

But it is worth noting that Tesla's product portfolio has not been updated for a long time. Two flagship models, Model S and Model X, were discontinued in the first half of this year. The main models currently on sale are Model 3 and Model Y. So what is the reason boosting its sales? The answer is very simple, it is its brand influence.

If switching to other brands, or saying the majority of domestic brands, having only two models in the market is obviously not enough competitiveness. Otherwise, they would not deploy numerous models in the domestic market. You should know that in the first half of this year alone, there were over 500 new and upgraded models entering the Chinese automotive market. The main purpose is to exchange consumer attention and sales through short time and high frequency exposure.

But Tesla's advantage lies in its brand influence. One is entry early, counting as the absolute pioneer of the electric market, and having its own energy replenishment system. Plus, the personal charm of the brand founder adds to it. Many consumers, if not considering price and other factors, will take it as one of the primary or main choices.

Speaking of Xiaomi, this can actually be counted as a sample of high efficiency for a single model. In the first half of 2026, Xiaomi Auto cumulative deliveries exceeded 180,000 units, basically reaching a monthly average of 30,000. It relied on one car in its first year, and now it only has two models on sale.

If you put it together with BYD, you can see what level its per-vehicle efficiency reaches. Two cars with 180,000 sales, compared to 1.196 million for 66 models, its per-vehicle average sales are far higher than most other brands on the market, basically reaching more than 3 times the industry average.

Why are these two paths worth being discussed separately? The cases of Tesla and Xiaomi answer the question "Can BYD and Geely's paths be replicated".

BYD's scale requires twenty years of industry chain deep cultivation; Geely's system requires ten-plus years of brand acquisition integration. These two things, other brands can almost not replicate. So if other brands want to gain presence in the market, they must have other differentiation advantages, relying on brands, or relying on their own ecosystems, or starting from other ways.

And there is one more point, relative to scale and system which are barriers that won't be easily broken, other methods may all have a certain uncertainty.

For example, Tesla's brand influence. Tesla's domestic retail sales in the first quarter of 2026 declined by 16.2% year-on-year. In January, Model Y even fell to 20th place in the retail ranking. Its pure electric retail market share in April of this year was only 3.06%. All of this explains one issue, that is, brand influence can be diluted by competitors.

Then there is Xiaomi's per-vehicle efficiency. If market acceptance of products is acceptable, then per-vehicle extreme efficiency is an advantage. If per-vehicle appeal in the market declines, then it is a serious blow to the brand, and it may even appear that one car decides life or death.

So, the "Hegemony" established by BYD and Geely is the effect of the superposition of factors such as time. In the short term, it is like ascending to heaven to replicate this brand development path. So the endgame of China's new energy market later will not be a "BYD + Geely" duopoly, but the top structure they are in has solidified. This barrier will not be easily broken by latecomers. On the contrary, these giants may "absorb" small and medium brands that are hard to sustain in the market.

# One Dominant Leader or Two Tigers Coexisting? #

As the saying goes, one mountain cannot hold two tigers. So will this point be reflected in the "Hegemony" contest between BYD and Geely?

In the short term, BYD appeared with teething pains after scale expansion. Domestic sales declined, and organizational reform just started, but its trump cards are relatively still thick enough. After all, it is the world's largest new energy capacity, has a complete industry chain layout, and has the largest user base in the current new energy field. If organizational reform can activate the combat power of respective brands, BYD's scale advantage still has hope for expansion.

In the medium to long term, Geely's growth momentum may have a longer sustainable period. Per-vehicle net profit hit a new high in the first half of the year, overseas exports surged, and new energy penetration rate steadily improved. The complementary structure of major brands gives it a buffer at any single market fluctuation.

At the same time, whoever can turn the overseas market from increment to profit, can get the hope of leading opponents. BYD's wholly-owned model has verified feasibility in Brazil and Thailand; Geely's synergy model is accelerating landing in Europe. Both roads can be passed, but which road can be walked better depends on who can find a better balance between localization operations, brand construction, and cost control.

Objectively speaking, the endgame of China's new energy market, one dominating is difficult, the probability of two strong heroes standing together is obviously higher. This point has already been confirmed in many markets globally. Regardless of BYD's scale or Geely's system, these two weapons can eliminate, but a more important point in the market is who can be more flexible. At this time, whether it is BYD's organizational adjustment or Geely's integration concept, they are all the adaptive answers produced to cope with current problems.

As for the final hegemony contest, whoever can take the lead in finding that key balance point between scale expansion and efficiency, product coverage and technology focus, development speed and product quality, is the one who may find the opportunity to lead opponents in the tense hegemony battle.

82 days. From 16 million to 17 million, BYD only took 82 days.

This speed, placed in the history of the global automotive new energy industry, is not "rare", it has never happened before.

On July 8, Xi'an, a Seal 08 drove down the production line of the BYD Xi'an Factory.

It marks the official birth of BYD's 17 millionth new energy vehicle, making BYD the first automaker globally to reach 17 million new energy vehicle deliveries.

From 16 million to 17 million, BYD only took 82 days. Sales in the first half of this year reached 1.8085 million, with overseas cumulative sales nearing 790,000, a year-on-year increase of 68%.

In 2003, BYD's first car was delivered here. In 2008, the world's first plug-in hybrid vehicle F3DM was born here.

Today, the 17 millionth new energy vehicle once again drives out of here to the world. From 1 to 17 million, the Xi'an factory witnessed BYD's process from moving China to the world.

Behind 17 Million

In the first half of this year, BYD's cumulative sales reached 1,808,511 vehicles, among which June single-month sales broke through the 400,000 mark for the first time, reaching 403,400 vehicles.

Especially worth noting is the overseas market. Passenger cars and pickups overseas cumulative sales in the first half reached 789,367, up 68% year-on-year, with overseas sales accounting for over 40% of total sales.

In May and June, BYD's market share in Germany exceeded that of Toyota.

This is not a specific model, it is overall market share. Germany is the heart of the European automotive industry, and Toyota is a giant that has cultivated here for 50 years. BYD completed the overtaking here in less than 5 years.

This would have been a joke to German car executives 10 years ago.

Additionally, the BYD Shark PHEV went on sale in the UK, with a WLTP pure electric range of 90km, comprehensive 674km, priced at £47,290, approximately 430,000 RMB.

And in Thailand, BYD has already dominated the feeds.

On July 12, BYD is about to announce its first brand spokesperson, with many Thai fan accounts intensively reposting to heat up the buzz, with the hot candidate pointing to Thai-Chinese star Lingling Kwong.

Chinese automakers in Southeast Asia have permeated from the product level to the cultural level. When Thai young people start screaming for BYD spokespersons, the forty-year emotional monopoly of Japanese cars in Southeast Asia is beginning to crack.

Technical Barriers

This year, BYD has continuously dropped heavy bombs on two main lines: electrification and intelligence.

In March, the second generation Blade Battery and Supercharge technology were launched, which can charge from 10% to 70% in 5 minutes at room temperature, and to 97% in 9 minutes; even in extreme cold environments of -30℃, charging time is only 3 minutes longer than room temperature.

This is mass production technology. No automaker in the world can achieve this charging speed while guaranteeing low-temperature performance.

As of June 30, a total of 7018 Supercharge stations have been built nationwide, covering 325 cities; BYD also announced that by the end of the year, 20,000 Supercharge stations will be built nationwide, leading new energy vehicles into the comprehensive Supercharge era, injecting momentum into the zero-carbon dream.

In May, BYD once again took the lead in promising a 1-year safety backing for City Pilot, and announced that all models can be equipped with God's Eye B Assist Driving LiDAR Version, creating an era of universal City Pilot.

The "Flagship Answer" of 17 Million Vehicles

Seal 08

Seal 08 went on sale officially on July 2, priced from 196,900 to 239,900 RMB. At this price, when you look at the configuration of Seal 08, it is enough to make competitors at the same price point silent.

Pure electric version CLTC max range 905 km; all models equipped with Native Supercharge Platform and second generation Blade Battery, 5 minutes to charge well, 9 minutes to charge full. Plug-in hybrid version full tank full battery comprehensive range reaches 1,660 km.

All models standard equipped with front double wishbone and rear five-link independent suspension, equipped with DiSus-A Closed Dual-chamber Air Suspension and Road Preview System, equipped with Rear Wheel Active Steering, turning radius of only 4.62 meters. This is a chassis configuration previously only seen on million-level luxury cars.

All models standard equipped with God's Eye B Assist Driving LiDAR Version; official provides dual safety backing for City Pilot and Intelligent Parking. No industry common sickness of "high specs exclusive, entry reduced specs".

Body dimensions 5150mm×1999mm×1505mm, wheelbase 3030mm; front dual zero gravity seats feature ventilation, heating and massage functions, equipped with 20-speaker Devialet sound system; over 90% soft padding uses Mother and Baby Grade Eco-Friendly Nappa Leather.

Seal 08 integrates 37 global firsts, with unique product strengths such as Supercharge technology, dual safety backing for parking intelligent driving, 905 km pure electric range, DiSus-A plus rear wheel steering, pulling the threshold of million-level flagship experience down to the 200,000 level.

Summary

In 2003, BYD delivered its first car in Xi'an.

At that time, no one believed that this private enterprise starting with batteries could build a decent car, let alone believed it could truly conquer Germany.

But BYD did it.

Ten years ago, Chinese automakers were learning from Toyota. Now, Toyota is learning from BYD.

From the first 1 million vehicles taking 13 years to the latest 1 million vehicles taking only 82 days.

In the future, BYD will continue to adhere to technological innovation, perfect global industrial layout, with higher quality and higher value products, leading the global new energy vehicle industry towards a new height, injecting momentum into the zero-carbon dream.

In May this year, data from the European Automobile Manufacturers Association (ACEA) shows that Chinese car brands in Europe's 31 countries saw overall sales for the first time exceed Japanese brands. Chinese automakers (BYD, SAIC, Geely, Chery, Leapmotor) sold a total of 138,400 vehicles, while Japanese automakers (Toyota, Honda, Nissan, etc.) sold a total of 130,400 vehicles.

The story of Chinese new energy vehicles has just entered the climax.

BYD's mid-size SUV Sealion 7 (Sealion 07 in China) is selling well in overseas markets! In fact, since the beginning of this year, BYD Sealion 07's domestic sales have been continuously declining. Cumulative sales from January to May 2026 were only 855 units. In contrast, the Korean market sold 4,477 units in just the first half, a surprising contrast — this car's sales in Korea far exceed those in China.

Additionally, Sealion 7 ranked 7th in sales among imported car models in Korea in the first half of this year; Australia sold 4,730 units, with sales performance similar to Korea; Malaysia sales reached 4,454 units. After seeing the cold feedback in the domestic market, BYD plans to stop production of Sealion 7 for the Chinese domestic market and concentrate capacity to meet global export orders.

In the first half of 2026, BYD's total sales in the Korean market reached 11,675 units. The small hatchback Dolphin sold 4,511 units. Combined with Sealion 7 sales, it helped BYD rank fourth in sales among imported car brands in Korea. However, industry forecasts predict that several models have recently been removed from the Korean government's electric vehicle subsidy list, and subsequent sales growth may encounter bottlenecks.

To cope with this situation, BYD launched a customer support plan, issuing vehicle purchase subsidies equivalent to the original government subsidy standards independently. Subsidy Standards: Purchase of Sealion 7 subsidized 1.52 million Won (6,887 RMB), Atto 3 (Yuan PLUS) subsidized 1.26 million Won (5,708 RMB), Dolphin subsidized 1.09 million Won (4,938 RMB).

BYD launched high self-funded subsidies to maintain the current continuously rising sales in the Korean market. As early as 2025 when BYD first entered the Korean market, it launched brand subsidies in areas where local government subsidy quotas were exhausted, taking multiple measures to boost sales. EV brand Polestar also launched similar policies, providing brand-owned subsidies for models that could not enjoy government subsidies.

It is reported that this self-funded subsidy policy is tentatively scheduled to implement only in July; whether it will continue will be finalized after negotiation with BYD headquarters. Under the unfavorable environment of losing official subsidies, whether BYD can rely on self-funded subsidies to stabilize sales growth has become a focus of attention in the automotive industry.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.

BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.

Eight Models Break 20,000 Monthly Sales, Song and Yuan Brands Stabilize at 50,000

The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.

Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.

The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.

Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes Effect

The high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.

The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.

Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.

Overseas Explosion: 160,600 Units in Single Month, Accounting for Over 40% of Total Sales, Becomes Second Growth Curve

In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.

Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.

Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge Volume

May marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.

From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.

As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.