In the penultimate month of 2023, according to statistics, the market share of independent brands has increased from 53 in the first half of the year1% further increased to 597%, the advantage is further expanded. According to this trend, the sales volume in 2023 will also be the first time that a domestic brand will surpass a joint venture brand and become the mainstream model in the Chinese auto market.
As the largest manufacturer of R&D investment, BYD has tens of billions of R&D funds every year, which has also established a huge technical fish pool for BYD in technology, and it is far ahead in technology and market layout. The core three-electric technology of the car is BYD's forte. Since 2020, BYD has successively launched blade batteries, DM-i super hybrid technology, and DM-P king hybrid technology to help BYD hybrid models become famous in the market, killing similar cars with ultra-low energy consumption and super performance. In terms of pure electric vehicles, the e-platform 3 was launched0, CTB and other technologies, starting from the whole vehicle, with an innovative vehicle platform to create a pure electric model that integrates efficiency and safety, also helps BYD's pure electric vehicles sell well. At the same time, BYD also has top technologies such as DMO and Yi Sifang, which are equipped on luxury cars such as Formula Leopard and Yangwang to create the ultimate experience for users.
We are also witnessing a miracle, a miracle that has never happened before. With the continuous development of new energy independent brands represented by BYD, this year will be the first year for independent brands to surpass joint ventures, of which BYD has made great contributions. As a sure sales champion, BYD launched the champion version of the model in this year's Dynasty and Ocean, as well as the high-end Denza, Formula Leopard, Yangwang and other strong product matrices in the market outstanding performance, but also recognized by professionals. In the next 2024, as an independent brother, we also look forward to BYD's more exciting performance.