BYD share: Tesla competitor BYD stops production of pure combustion vehicles

BYD no longer produces pure combustion engines

BYD’s sales figures show great growth

Climate conference 2021: Various manufacturers and countries, including BYD, want to stop producing combustion engines by 2040

BYD has stopped producing combustion engines

Tesla competitor BYD has stopped producing combustion engines. This was announced by China’s largest electric car maker in a press release on April 4. Accordingly, only fully electric and highly electrified plug-in hybrid vehicles should be manufactured. “In the future, BYD will focus on pure electric vehicles and plug-in hybrids in the automotive sector,” the company said in a statement on the Hong Kong stock exchange, according to Reuters. However, production of gasoline engines will not be phased out entirely, as smaller, highly efficient engines are to continue to be used in plug-in hybrid cars. The move comes in response to Beijing’s pledge to increase green energy consumption to peak carbon emissions by 2030, the news agency said.

Sales of BYD’s New Energy Vehicle are seeing tremendous growth

As the company’s latest sales figures show, BYD car sales continue to rise. The Chinese manufacturer sold a total of 90,268 units in February, which corresponds to an increase of 336.2 percent compared to the same period last year. 87,473 units were BYD’s New Energy Vehicle (NEV), which corresponds to a growth of 764.1 percent compared to the same month last year. Almost half of all units sold were electric vehicles. With 43,173 units, the sales figures for electric cars show an increase of 451 percent over the previous year. BYD’s DM-i model with super hybrid technology sold a total of 44,300 units, showing a year-on-year growth of 1,836.2 percent in February.

Climate conference 2021: These six car manufacturers want to abolish combustion engines by 2040

BYD is also one of the six manufacturers who, together with 24 countries, want to completely eliminate the production of combustion engines by 2040. In addition to BYD, the manufacturers Volvo, Ford, General Motors, Mercedes-Benz and Jaguar Land Rover also committed themselves at the world climate conference in Glasgow in 2021 to no longer producing combustion engines by 2040. All signing parties are striving to “make the global sale of new cars and vans emission-free by 2040 and in the leading markets by 2035 at the latest,” explains BYD in a press release.

In addition, BYD signed an agreement supporting a global memorandum of understanding calling on countries to make 30 percent of their new medium and heavy-duty commercial vehicles zero-emissions by 2030 and 100 percent by 2040. The third document signed by BYD calls for accelerating the construction of a comprehensive network of EV charging infrastructure.

A fleet of ten BYD ADL Enviro400EV double-decker buses also provided emission-free VIP transport for heads of state and government at the climate conference, including British Prime Minister Boris Johnson and UN Secretary-General Antnio Guterres.

E. Schmal/Redaktion finanzen.net

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