On March 25, the 8th China Electric Vehicle 100 Forum (2022) was held in Beijing. The theme of this year is "Greeting a New Stage in the New Energy Vehicle Market". Among them, WANG Chuanfu, chairman of BYD, spoke at the meeting through video.
Mr. Wang also gave the current data on the penetration rate of new energy vehicles in China in his speech: from only 6% in January 2021, and as high as 22% by the end of 2021, the penetration rate in the first half of March 2022 has exceeded 28%, and the penetration rate is expected to exceed 28% in the whole month. Moreover, the difference between this wave of growth last year and 3 years ago is that taxis and online ride-hailing cars accounted for a large proportion of new energy growth at that time. However, in the growth of 2021, private cars accounted for 88%. That is to say, more and more ordinary users are willing to choose new energy vehicles when buying cars.
As one of the representative brands of new energy vehicles in China, BYD has also achieved very good results in 2021. According to BYD's official data: IND sold 740,000 cars in 2021, of which more than 600,000 were new energy vehicles, an increase of 220% year-on-year. From January to February this year, BYD's new energy vehicle sales exceeded 180,000 units, a five-fold increase in year-on-year sales.
Through Wang Chuanfu's speech at the 100-person meeting on electric vehicles this time, we can see that the development of BYD and even the entire new energy vehicle market has entered a new stage, and the recognition of ordinary users for new energy vehicles has been greatly improved. More and more people will consider new energy when buying a car. This also brings more opportunities for the development of new energy automobile companies like BYD.
At the same time, with the development of the domestic new energy market in recent years, domestic new energy vehicle companies such as BYD have continuously exerted efforts in brand building, making everyone more and more recognized for domestic automobiles and domestic new energy vehicle brands. In the past, as long as new energy vehicles were mentioned, the first thing that everyone thought of was Tesla. After several years of development, it will be found that the domestic new energy market can be said to be a hundred flowers blooming, and many excellent brands and models have emerged. For example, BYD Han, which has sold well in the past two years, is one of the representative models.
In addition to the above reasons, BYD's hot sales are also inseparable from continuous technological innovation, continuous introduction of excellent products and continuous improvement of production capacity to meet everyone's high demand for car purchases.
At this meeting of 100 electric vehicles, Wang Chuanfu also proposed to adhere to lithium iron phosphate as the right development path, especially BYD blade batteries, which have a higher safety factor and service life than ordinary batteries.
In terms of production capacity, BYD has built 9 factories in the past six months, and 8 major factories will complete production and put into operation in 2022. By the end of February, BYD had delivered more than 1.7 million new energy vehicles.
It can be said that this time, BYD Chairman Wang Chuanfu's speech at the China Electric Vehicle 100 People Conference also let us more intuitively understand BYD's achievements in new energy vehicles and the reasons behind it. Finally, let's look forward to what surprise products BYD will bring to consumers next.