BYD plans to launch new commercial vehicle models in China, Europe and Japan.

CTOnews.com, March 13 (Xinhua)-- BYD, one of the world's largest manufacturers of electric passenger cars by sales, plans to expand aggressively in the field of electric commercial vehicles, according to the Wall Street Journal.

BYD plans to launch new commercial vehicle models in markets such as China, Europe and Japan over the next three years, according to people familiar with the matter.

BYD has allocated a budget of more than $20 billion (CTOnews.com) for the development of the commercial vehicle division by 2025, mainly for research, product development and capacity expansion, these people said.

BYD data show that since its launch in 2010, BYD commercial vehicles have spread to more than 50 countries and regions and more than 300 cities around the world, including Europe, the United States, Japan and South Korea.

In terms of new energy vehicles, BYD sold a total of 1868543 vehicles in 2022, an increase of 152.5% over the same period last year, ranking first in global new energy vehicle sales.