Fuel vehicles are in the minority, BYD: Penetration rate of new energy vehicles exceeds 50%

News on May 22. Recently, Lu Tian, ​​general manager of BYD Dynasty Network Sales Division, revealed in public that During the third week of May (13-19), the penetration rate of new energy has reached an astonishing 50.2%. This data indicates that new energy vehicles are quickly becoming the mainstream choice in the market, while fuel vehicles are gradually becoming a "minority".

When Lu Tian reviewed the evolution of China’s automobile industry, he pointed out that the new energy vehicle market has experienced a long and difficult initial period. It took 9 years to go from 0% to 2% penetration rate. In the following three years, the market penetration rate only increased from 2% to 8%. During this 12-year period, BYD and many other new energy vehicle pioneers have moved forward alone and firmly in the market. However, after a long initial stage, the new energy vehicle market has entered a period of rapid growth. With the continuous advancement of technology, the continuous decline of battery costs, and the government's supportive policies, the new energy vehicle market has gradually emerged from the predicament. According to statistics, the sales of new energy vehicles in 2020 have accounted for about 5% of the entire automobile market. It is expected that by 2023, the market penetration rate will only increase from 8% to 20

However, since 2021, the new energy vehicle market has ushered in explosive growth, with the penetration rate rising at an astonishing rate of 10% per year. By November 2023, this number has historically exceeded 40%. Today, has officially crossed the 50% threshold. This milestone is undoubtedly a glorious new chapter created by leading new energy vehicle companies such as BYD and the majority of users.

The wheel of history is rolling forward, and BYD will stick to its original aspirations and continue to create history hand in hand with new energy vehicle users. Passionately expressed in his speech that Lutian will stick to its original aspirations and continue to work with new energy vehicle users to create history.

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