BYD Co

OTC: BYDDY · HKEX: 1211 · China

BYD is the largest electric vehicle maker in China by volume and the only one that also builds its own batteries at scale. That vertical integration is the whole thesis: it sets the floor on what BYD can charge and the ceiling on what its competitors can survive.

BYD Co NEV units sold by period. Sep 26: 463,561. +17.0% year on year.
Period	NEV units sold	Source
Oct 25	441,706	BYD production and sales volume announcement, October 2025
Nov 25	480,186	BYD production and sales volume announcement, November 2025
Dec 25	420,398	BYD production and sales volume announcement, December 2025
Jan 26	210,051	BYD production and sales volume announcement, January 2026
Feb 26	190,190	BYD production and sales volume announcement, February 2026
Mar 26	300,222	BYD production and sales volume announcement, March 2026
Apr 26	321,123	BYD production and sales volume announcement, April 2026
May 26	383,453	BYD production and sales volume announcement, May 2026
Jun 26	403,472	BYD production and sales volume announcement, June 2026
Jul 26	419,211	BYD production and sales volume announcement, July 2026
Aug 26	440,293	BYD production and sales volume announcement, August 2026
Sep 26	463,561	BYD production and sales volume announcement, September 2026

BYD Co NEV units sold by period. Sep 26: 463,561. +17.0% year on year.

Source: BYD production and sales volume announcement, September 2026

Latest

Four horizontal bars show third-quarter 2026 deliveries against the third quarter of 2025 on a scale from 0 to 30 percent. NIO is up 25.4 percent on 109,178 vehicles and BYD up 18.7 percent on 1,323,065; both bars are pale. Li Auto is up 7.2 percent on 99,964 and XPeng up 2.1 percent on 118,390; both bars are darker.

EV & mobility

Q3 deliveries: NIO and BYD grew by double digits, XPeng and Li Auto did not

NIO delivered 109,178 vehicles in the third quarter (+25.4%) and BYD sold 1,323,065 (+18.7%). XPeng's 118,390 was up 2.1% and Li Auto's 99,964 up 7.2%. The growth came from NIO's premium brand and BYD's exports.

1 Oct 2026 · Analysis · 6 min

Three horizontal bars of equal width, each the range a company guided to for third-quarter 2026 deliveries, floor on the left and ceiling on the right: NIO 108,000 to 111,000, XPeng 115,000 to 121,000, Li Auto 95,000 to 100,000. A pale marker shows where actual deliveries landed. NIO's 109,178 sits about two-fifths of the way up, XPeng's 118,390 just past halfway, and Li Auto's 99,964 almost exactly at the ceiling.

EV & mobility

Q3 guidance scorecard: three hits, and Li Auto finished 36 vehicles from its ceiling

NIO, XPeng and Li Auto each delivered inside the third-quarter range they gave. NIO landed 39.3% of the way up its range, XPeng 56.5%, Li Auto 99.3%. All three set their ranges with part of the quarter already delivered.

1 Oct 2026 · Analysis · 6 min

Four ownership trees on a dark ground. BYD branches to BYD, Denza, Fangchengbao and Yangwang; Geely Holding Group to Geely, Zeekr, Lynk & Co and Volvo; SAIC Motor to MG, Roewe, Rising Auto and IM Motors; Changan Automobile to Deepal, Avatr and Changan. A dashed circle at the right lists GAC, Dongfeng, Chery, Changcheng and JAC as others. A row of cars stands beneath each group.

EV & mobility

Chinese EV brands: who owns what

Denza, Yangwang, ONVO, MONA, Zeekr, Lynk & Co, MG, Avatr. Most of the names arriving in Europe belong to seven groups, one of which also owns Volvo, and one phone company that owns no carmaker at all.

12 Sept 2026 · Deep dive · 10 min

An electric car shown as an exploded stack: body shell, seats and interior, battery pack, drivetrain and wheels, and the electronics board, each layer tagged with an icon. To the right, a magnifying glass enlarges one step of a bar chart, with a row of cars, a rising trend line and stacks of coins behind it.

EV & mobility

What EV gross margin actually measures, and why the Chinese makers report it differently

XPeng's gross margin rose from 17.3% to 20.7% over a year in which its cars got less profitable, not more. Both numbers come from the same filing. Here is how that works.

12 Sept 2026 · Deep dive · 8 min

Two battery cells in cutaway, side by side. The left cell, labelled LFP for lithium iron phosphate, has a green casing and green cathode granules. The right, labelled NMC for nickel manganese cobalt, has a silver casing and mixed blue, grey and bronze cathode spheres. Both sit above a separator, a dark graphite anode layer and a copper current collector.

Batteries & energy

LFP vs NMC: the two battery chemistries that split the EV market

An LFP pack cost $81 per kWh in 2025. The nickel equivalent cost $128. That $47 gap explains most of what has happened to electric car prices, and to the league table of who builds the cells.

12 Sept 2026 · Deep dive · 6 min

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