BYD's 5 millionth NEV rolls off line in Jinan

A Denza N7, which is BYD's 5 millionth new energy vehicle (NEV), rolled off the assembly line at the BYD production base in the Jinan Start-up Area for Growth Drivers Transformation on Aug 9.

The Warren Buffet-backed company is the first carmaker in the world to reach the milestone.

BYD has been involved in the field of NEV for 20 years before experiencing its current rapid development. The company, which currently has 11 research institutes and over 90,000 R&D personnel, has 15 patents and invested over 100 billion yuan ($13.78 billion) in R&D.

Wang Chuanfu, chairman and president of BYD, estimated that the share of Chinese marques would reach 70 percent by 2025 thanks to their edge in the NEV sector.