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szdaily -> Business/Markets -> 
BYD ends production of combustion engine cars
    2022-04-06  08:53    Shenzhen Daily

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)

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