Investment Summary
Continuing the Strong Sales Momentum, the Company Reaches the Target Ahead of
Schedule
BYD sold 235 thousand vehicles in December, +150% yoy (It has recorded a triple-digit
growth for 12 consecutive months), far higher than the overall increase of domestic new
energy vehicles (about +47%), and + 2% mom, including 112 thousand pure electric vehicles,
+132% yoy and down 2% mom, and 123 thousand plug-in hybrid electric vehicles, +176% yoy
and +6% mom.
For 2022, BYD’s new energy passenger vehicles reported a cumulative sales volume of 1,863
thousand units, +208.64% yoy, exceeding its annual sales target of 1,500 thousand units. On
a closer look, the cumulative growth rate of pure electric vehicles was 184%, and that of
plug-in hybrid electric vehicles was 247%. On the basis of the blade battery, the DM-i super
hybrid technology, the e-platform 3.0 and the CTB battery body integration technology, new
products constantly launched by the Company were significant in the competitive strength,
showing a pattern of prosperous supply and demand in the terminal market.