BYD plans to capture more than 20% of the New Energy Vehicle (NEV) market in China. As of 2021, the company’s sales for New Energy Vehicle (NEV) exceeded 509,000. According to the Shenzhen Economic Daily, the Chinese carmaker expects to sell 1.1 to 1.2 million NEVs by the year 2022. BYD has also noted a tremendous demand for its plug-in hybrids in recent times. BYD Chairman and President Wang Chuanfu have stated that the demand for the BYD DM-i platform model has exceeded the supply. With a demand of up to 200,000 units, the delivery period for the models has been pushed by 4 months.
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