February 2025 saw strong growth for automaker BYD, which reported global sales of 322,846 vehicles. This marks an increase of 8.9% over the prior month's figure of 296,446 units, buoyed by the end of the Chinese New Year holiday. Notably, BYD also acclaimed record-breaking exports, moving 67,025 vehicles abroad, representing a staggering 187.8% year-on-year increase.
Since November 2024, BYD's international sales have climbed for three consecutive months, thanks to strategic expansion and investments. To support their export ambitions, BYD aims to operate eight car carriers by 2026. Currently, four carriers are active, including the latest addition, the BYD Shenzhen, which set sail on January 16. This impressive vessel, at 219 meters long and able to accommodate 9,200 cars, is BYD's largest carrier.
Despite initially seeming inflated, the year-over-year sales comparison of 165.2% for February must be approached with caution, as the timing of the Chinese New Year shifts annually. A more accurate comparison reveals BYD sold 614,679 vehicles during January and February 2025 combined, reflecting a year-on-year growth of 90% compared to 322,767 units during the same period last year.
During the first two months of the year, BYD also significantly increased its exports to 133,361 vehicles, marking a 124% rise from 59,465 units last year. The company's prospects for 2025 appear bright, with analysts forecasting total sales to reach approximately 5.5 million vehicles, up from 4.25 million units sold globally in 2024.
BYD has fully transitioned from conventional internal combustion engine (ICE) vehicles to exclusively manufacturing new energy vehicles, which encompass battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The sales mix shows BEVs accounted for 42.3% of BYD's sales, with PHEVs contributing to 57.7%.
Meanwhile, the Indian government is ramping up efforts to boost local manufacturing capabilities, particularly within its railway sector. Railway Minister Ashwini Vaishnaw announced plans during his recent visit to Dahod, Gujarat, where the electric locomotive manufacturing unit is poised to start producing high-speed freight engines by 2028.
Inspected by Vaishnaw, the production of the first 9000 horsepower (HP) engine will serve Indian Railways within months as preparations continue to meet the demands of improved freight movement. Laid down with project costs surging to Rs 20,000 crore, the foundation stone for this facility was established by Prime Minister Narendra Modi back in April 2022.
The need for speedy freight trains is underscored by India's requirement for high horsepower and efficient locomotives to facilitate cargo transport effectively. "Hence, the Ministry of Railways had decided to manufacture 9000 HP high-speed freight locomotives..." noted the Western Railway's official statement, elaborately outlining the collaboration with Siemens under the Indian government's 'Make in India' initiative.
Vaishnaw emphasized the transformative impact of these advanced locomotives upon freight movement throughout India. The increased horsepower will alleviate congested railway lines by enhancing the loading capacity and average speed of freight trains.
The engines being constructed at the Dahod facility will boast compatibility with sophisticated Digital Tracking systems, green features, and modern three-phase propulsion systems to optimize performance. With the potential to haul cargo loads of up to 4500 tonnes at speeds reaching 120 kilometers per hour, these locomotives are set to revolutionize the Indian freight sector.
Both BYD and Indian Railways' initiatives highlight significant advancements and shifts within their respective industries. The continuous rise of BYD's global sales and export figures demonstrates the strong appetite for electric vehicles, echoing the larger global trends toward sustainable energy. Similarly, the development of Indian high-speed freight locomotives reflects India’s commitment to improving its infrastructure and increasing domestic manufacturing capabilities.
These forward-looking strategies from BYD and Indian Railways position both companies to not only meet domestic demands but open new avenues for international markets and exports, marking significant milestones against the backdrop of growing global competition and sustainability goals.