Workers assemble new energy vehicles at the Chery assembly workshop in Wuhu city, east China’s Anhui province. In recent years, Wuhu has prioritized this industry in its green transformation and industrial upgrading, attracting more than 300 enterprises from all sectors. Photo: VCG

Several Chinese new energy vehicle (NEV) makers saw sales increase in October, with BYD becoming the first Chinese automaker to surpass monthly sales of half a million vehicles, setting a new record.

Experts noted that, supported by strong domestic demand as well as policies to boost consumption, China’s NEV sector will continue to grow despite protectionist measures by some Western countries targeting Chinese-made NEVs.

As of Sunday, several NEV companies had released sales and delivery reports for the previous month. BYD, one of China’s leading NEV manufacturers, once again won the monthly sales ranking championship.

According to the report, BYD’s NEV sales in October reached 502,700 units, a year-on-year increase of 66.5%. Overseas sales continued to grow, with 31,192 NEVs in the passenger sector sold abroad, including 28,012 units exported.

From January to October, BYD’s cumulative NEV sales reached 3.2505 million units, a year-on-year increase of 36.49%.

Chinese automaker Seres saw its NEV sales increase 104.61% year-on-year in October, reaching 36,011 units. In the first 10 months, the company sold 352,724 NEV, an increase of 310.99% compared to the same period last year.

The implementation of exchange policies has significantly boosted NEV sales, said Cui Dongshu, secretary general of the China Passenger Car Association, noting that supported by strong domestic demand, China’s NEV industry will continue to grow despite the protectionist measures of certain Western countries. suppress the Chinese NEV sector.

Additionally, new car brands like Nio, Xpeng and Li Auto have seen their delivery volumes increase. Nio delivered 21,000 vehicles in October, an increase of 30.5% year-on-year, while Li Auto delivered 51,400 new vehicles in October, an increase of 27.3%. XPeng delivered 23,900 new vehicles, setting a new monthly delivery record with a 20% year-on-year increase.

Several Chinese automakers reported impressive revenue growth in the third quarter.. Li Auto said its third-quarter revenue reached 42.9 billion yuan ($6.1 billion), an increase of 23.6 percent year-on-year.

BYD reported third-quarter revenue of 201.125 billion yuan, an increase of 24% year-on-year. Notably, it was the first time that BYD’s quarterly revenue exceeded that of Tesla, which reported third-quarter revenue of $25.18 billion.

World Time