The Shenzhen-headquartered BYD sold 641,350 new energy vehicles in the first half of 2022, a 314.9 percent spike from its sales figures in the first half of 2021. Of the total, 323,519 units, or just over 50 percent are battery electric vehicles (BEVs); the rest are plug-in hybrids.

Under China’s sales rules, PHEVs and BEVs are counted together as new energy vehicles (NEVs).

By comparison, U.S.-based Tesla delivered 564,743 vehicles in the first two quarters of 2022, faltering in the second quarter as a lockdown in Shanghai slowed production at its Gigafactory in the Chinese city.

At the same time, BYD, also a producer of electric vehicle batteries, has managed to overtake South Korea’s LG as the world’s second-biggest producer of high-voltage batteries. China’s Contemporary Amperex Technology, known as CATL, remains the world leader.

BYD previously revealed in its investor conference call that its sales target of NEVs in 2022 may be between 1.1 million units and 1.2 million units, including 600,000 pure electric vehicles and 500,000 to 600,000 plug-in hybrid vehicles.

Currently, China accounts for an overwhelming majority of BYD’s sales. Their EV line-up includes the Han EV sedan, the Dolphin hatchback, the Song EV SUV, and the Atto 3 SUV (see lead photo). However, analysts predict that BYD’s global expansion is not a question of if but when, adding that the Chinese carmaker will be making an aggressive move to go international.