BYD

CATL continued to be No. 1, but with a slight decrease in share from Jan-March. BYD remained in second place and increased its share.

BYD's battery making unit FinDreams will be Tesla's new supplier of energy storage cells outside of CATL, securing more than 20 percent of orders for the Megapack product line, according to local media.

The Song and Qin families continue to be BYD's best-sellers. The Yuan family was the third best-selling BYD model in May, with 40,231 units sold.

BYD's PHEVs have continued to hit record highs over the past three months, performing significantly better than BEVs, reflecting the overall market's greater acceptance of hybrid models.

BYD said it has built up a team of more than 100 people in Saudi Arabia and will open more stores there.

“While new launches should boost wholesale volume, we would monitor whether it could spark another round of price competition,” Morgan Stanley said.

The Seal 06 DM-i and Qin L DM-i are the first two models to feature BYD's fifth-generation DM technology, both available in five variants and with a price range of RMB 99,800 ($13,770) to RMB 139,800.

BYD's fifth-generation DM technology allows the vehicle to consume as low as 2.9 liters of fuel per 100 kilometers at low charge, with a combined range of up to 2,100 kilometers.

BYD plans to increase the number of its dealer stores in Brazil to 250 by the end of 2024.

BYD will launch its fifth-generation DM (Dual Mode) hybrid technology on May 28, which is expected to give vehicles a range of up to 2,000 km on a full tank of fuel and a full charge.