Chinese electric vehicle maker BYD on April 3 said it has stopped production of vehicles powered by fossil fuels, now focusing exclusively on electric and hybrid cars.
The Shenzhen-based company will still produce and supply components for gas-fueled vehicles and will provide services and after-sales guarantees to existing customers.
According to BYD’s report, in March this year, the sales volume of plug-in hybrid models was 50,700 units, up 615.2% year-on-year, while the sales volume of pure electric models was 53,700 units, up 229.2% year-on-year.
BYD sold zero fossil-fuel vehicles in March, while in February, the firm sold 2,795 units, down 84.6% year-on-year.
Under the tide of electrification, BYD has become the first traditional automotive manufacturer in the world to stop the production of fuel-combusting vehicles. This move will provide more confidence to other car companies in producing more environmentally friendly vehicles.
BYD’s Dynasty series is the firm’s most eye-catching model. In March this year, BYD sold 12,359 units of its Han series and 9,625 units of its Tang series. The other three series – Qin, Song and Yuan – contributed 24,797 units, 26,729 units and 12,881 units respectively. The Dolphin series, which went on the market recently, also made outstanding achievements, with sales reaching 10,501 vehicles in March.
At the China EV 100 Forum held not long ago, Wang Chuanfu, chairman and president of BYD, said that based on the development speed in 2021, the penetration rate of new energy vehicles is expected to reach 35% in 2022 in China.