The current situation of BYD's new energy vehicle industry can be summarized as follows:
1. Technological innovation and R&D investment: BYD continues to increase its R&D investment in the field of new energy vehicles, with R&D investment reaching 20.177 billion yuan in the first half of the year, a year-on-year increase of 42%, and cumulative R&D investment exceeding 150 billion yuan, becoming the "king of R&D" in A-share market. BYD has launched multiple leading technologies, such as the fifth generation DM technology, blade batteries, DiPilot advanced intelligent driving assistance system, etc., further consolidating BYD's leading position in the field of new energy vehicle technology. The fifth generation DM technology has achieved the world's highest engine thermal efficiency of 46.06%, the world's lowest fuel consumption of 2.9L per 100 kilometers, and the world's longest comprehensive range of 2100 kilometers.
2. Market performance and sales performance: BYD's new energy vehicle sales continue to lead, with a cumulative sales volume of 1.613 million vehicles in the first half of the year, firmly holding the top spot in global new energy vehicle sales, and further increasing its market share to 32.6%. The overseas market performance is impressive, with sales exceeding 233000 vehicles in the first half of the year, almost reaching the level of the whole year of 2023. BYD's new energy vehicle footprint has spread to 94 countries and regions worldwide, and its passenger car business covers more than 400 cities in 84 countries and regions. In the export market of Chinese new energy vehicle companies, BYD and Tesla have become the two giants, jointly accounting for 53.5% of Q3 new energy vehicle exports.
3. Brand building and strategic layout: BYD continues to improve its multi brand matrix strategy to meet the needs of different segmented markets. The Dynasty series and Ocean series, as the main brands, cover multiple segmented markets from compact sedans to SUVs. The Equation Leopard brand has been launched, focusing on the off-road and rugged SUV market, the Tengshi brand focuses on the high-end luxury market, and the Look Up brand represents BYD's exploration in the fields of ultra luxury and ultimate performance. BYD is also actively expanding its overseas production bases. Factories in Thailand and Uzbekistan have been completed and put into operation, and production bases in Brazil and Hungary will also be put into operation in the near future.
BYD has shown strong development momentum in technological innovation, market performance, and brand building in the new energy vehicle industry, and has become a leader in the global new energy vehicle field.