
BYD Co., China’s largest electric vehicle (EV) maker, said that as of last month it stopped making combustion engine vehicles and now produces full electric and heavily electrified plug-in hybrid cars only. “In the future, BYD will focus on pure electric and plug-in hybrids in the automobile sector,” the company said in a statement filed to the Hong Kong stock exchange Sunday. The Shenzhen-based company will not completely stop making gasoline engines since smaller highly efficient engines will continue to be used in plug-in hybrid cars. It will still produce and supply components for gas-fueled vehicles and provide service and after-sales guarantees to existing customers, BYD said. Its move is in response to China’s pledge to boost green energy consumption to bring carbon emissions to a peak by 2030. The company, which is backed by Warren Buffett, said it was committed to building low-carbon and environmentally friendly vehicles. The Hong Kong and Shenzhen-listed carmaker went further on Twitter, saying that “by doing this, BYD has become the first automotive manufacturer in the [world] to stop the production of fuel combusting vehicles.” BYD is among six carmakers — the others being Volvo, Ford, General Motors, Mercedes-Benz and Jaguar Land Rover — to have signed up to a global campaign to phase out combustion engine vehicles by 2040. BYD sold 104,878 units of new energy vehicles (NEVs) in March, surging from just 24,218 units in the same month a year earlier, and marking its highest monthly sales ever. Last month’s sales comprised 53,664 pure EV and 50,674 plug-in hybrid cars and 540 commercial NEV cars. (SD-Agencies) |