Source: BYD

BYD (HKG:1211) produced its 15 millionth new energy vehicle on December 18, 2025, at its Jinan manufacturing base, becoming the first global automaker to reach that production level.

The milestone vehicle was the Denza N8L, a large six-seat plug-in hybrid SUV, which simultaneously marked the 15,000th unit produced of that model. BYD completed the jump from 10 million to 15 million vehicles in 13 months, compared with the 13 years it took to reach its first 1 million units.

Source: Denza

BYD’s new energy vehicle timeline traces back to December 2008, when the company produced the F3DM, China’s first mass-produced new energy vehicle and the world’s first production plug-in hybrid. The company reached 1 million cumulative production on May 19, 2021, with the Han EV, after more than a decade of gradual capacity build-up.

Acceleration followed. BYD reached 3 million vehicles in November 2022 with the Seal EV, a mid-size electric sedan positioned against the Tesla Model 3. The move from 1 million to 3 million units took roughly 18 months, marking the start of BYD’s high-growth phase.

Subsequent milestones compressed further. The 5 millionth vehicle rolled off the line on August 9, 2023, a Denza N7 equipped with DiSus-A active suspension and advanced driver assistance systems. The 6 millionth unit followed in November 2023 with the Fangchengbao Bao 5 off-road SUV. By November 18, 2024, BYD reached 10 million units with the Denza Z9, less than two months after producing its 9 millionth vehicle.

International manufacturing has increasingly contributed to volume. On July 4, 2024, BYD produced its 8 millionth new energy vehicle at its Rayong factory in Thailand. On October 9, 2025, the 14 millionth vehicle, a Song Pro DM-i for overseas markets, was produced in Bahia, Brazil, with Brazilian President Luiz Inácio Lula da Silva attending the ceremony alongside BYD chairman Wang Chuanfu.

Sales momentum has remained high. From January to November 2025, BYD sold 4.182 million vehicles, an 11.3% increase year on year. Overseas sales reached 917,000 units, exceeding the company’s full-year 2024 overseas total, with exports spanning more than 110 countries and regions.

The Denza N8L, produced at the 15 millionth milestone, is positioned as a large six-seat SUV using a 2.0T three-motor plug-in hybrid system. Two variants are offered in China, priced between 299,800 CNY (c. $42,600) and 329,800 CNY (c. $46,800). All versions are equipped with DiSus-A intelligent body control and the God’s Eye B assisted driving system.

BYD states the Denza N8L completed a 210 km/h (130 mph) moose test without rollover using its YiSanFang vehicle control system. Structural safety includes 2,000 MPa-strength steel in key areas, CTB battery-body integration, and nine airbags. The model has a minimum turning radius of 4.58 meters (15.0 feet), the smallest among large SUVs, according to the company.

Interior space measures 6.11 square meters, with a configurable “4+N” seating layout. The vehicle integrates an AI agent based on the DeepSeek large language model and supports vehicle-to-home connectivity through BYD’s digital ecosystem.

Denza’s overseas expansion has accelerated alongside BYD’s scale. The Denza D9 luxury MPV ranked first in luxury MPV sales in Indonesia, Thailand, and Malaysia in the first half of 2025. The model’s starting price in Singapore is about 1.606 million CNY (c. $228,100), while its Brazil pre-sale price is about 1.05 million CNY (c. $149,100), reflecting much higher overseas pricing than in China.

BYD’s cumulative research and development spending has exceeded 220 billion CNY (c. $31.2 billion), with 43.75 billion CNY (c. $6.2 billion) invested in the first three quarters of 2025 alone, as the company pushes vehicle platforms, charging systems, and driver assistance technology toward higher volume and broader global deployment.

Whether BYD’s next five million vehicles will arrive even faster may depend less on factory capacity than on how smoothly global markets absorb China’s rapidly expanding electric product pipeline.

Conversion rate: 1 USD = 7.042 CNY as of December 18, 2025