As a move to combat the swiftly escalating climate crisis, China has accelerated its production of electric cars while introducing policies that make it harder to acquire gasoline-powered vehicles. China’s leading OEM, the BYD Group, earned more than 216 billion yuan in revenue in 2021, an increase of 38 percent compared to the previous year. Among this, around 113 billion yuan of the revenue came from the electric vehicles and related products, accounting for 52 percent of the total revenue.
BYD – China’s leading EV brand
BYD was established in China in 1995 as a high-tech company resolved to provide zero-emission energy solutions. In 2021, it was the largest shareholder in the Chinese electromobility market with EV sales, reaching nearly 600,000 cars. In the same year, the company also had the third highest sales volume of battery electric vehicles making it one of the most popular BEV brands in China.
One yuan equals approximately 0.15 U.S. dollars or 0.14 euros (as of April 2022).
Figures have been rounded to provide better understanding of the statistic. *Figures for 2018 and 2019 were restated. Figures for 2010 to 2018 were retrieved from previous reports.
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Sina.com.cn. (March 30, 2022). Revenue of BYD Group from 2010 to 2021 (in billion yuan) [Graph]. In Statista. Retrieved June 27, 2022, from https://www.statista.com/statistics/279209/revenue-of-byd-in-china/
Sina.com.cn. "Revenue of BYD Group from 2010 to 2021 (in billion yuan)." Chart. March 30, 2022. Statista. Accessed June 27, 2022. https://www.statista.com/statistics/279209/revenue-of-byd-in-china/
Sina.com.cn. (2022). Revenue of BYD Group from 2010 to 2021 (in billion yuan). Statista. Statista Inc.. Accessed: June 27, 2022. https://www.statista.com/statistics/279209/revenue-of-byd-in-china/
Sina.com.cn. "Revenue of Byd Group from 2010 to 2021 (in Billion Yuan)." Statista, Statista Inc., 30 Mar 2022, https://www.statista.com/statistics/279209/revenue-of-byd-in-china/
Sina.com.cn, Revenue of BYD Group from 2010 to 2021 (in billion yuan) Statista, https://www.statista.com/statistics/279209/revenue-of-byd-in-china/ (last visited June 27, 2022)