Lei Kang

To date, BYD has more than 90,000 R&D engineers and has filed more than 48,000 patents worldwide, according to an announcement.

China's NEV penetration at retail was 32.8 percent in January, down 7.5 percentage points from 40.3 percent in December.

As a comparison, CATL and BYD's shares in 2022 were 36.2 percent and 13.9 percent, respectively.

CATL's share of China's EV battery market increased by 4.93 percentage points in January from December, while BYD's share decreased by 4.37 percentage points.

This means that the penetration of passenger NEVs at retail was 32.8 percent in January, down from 40.2 percent in December.

Since its inception in 2016, Nio Capital has raised five funds, including three US dollar funds and two RMB funds, with a total management scale of RMB 15 billion.

BYD and Raízen Power plan to build 600 new DC charging piles in eight major Brazilian cities.

China's January wholesale sales of passenger NEVs are expected to be 700,000 units, up 80 percent year-on-year, but down 37 percent from December, the CPCA said.

Pouch-type ternary power battery cells saw the biggest drop, falling 7.3 percent to $0.51 per Wh in January, TrendForce said.

Seal is the third EV model launched by BYD in Nepal after Atto 3 and Dolphin.