Chinese automaker BYD announced that as of last month it stopped the production of traditional gasoline-powered vehicles and now produces full electric and heavily electrified plug-in hybrid cars only.
The Chinese leading new-energy vehicle manufacturer said that this move comes as part of brand’s electrification strategy.
The company also said in the statement that it will continue providing comprehensive services and supplies of spare parts throughout the life cycle to existing fuel vehicle customers.
— BYD (@BYDCompany) April 4, 2022
BYD will not completely stop making gasoline engines since smaller highly efficient engines will continue to be used in plug-in hybrid cars.
BYD’s move comes in response to Beijing’s pledge to boost green energy consumption to reduce carbon emissions significantly by 2030.
Meanwhile, BYD will continue to produce and supply the components of ICE vehicles, so as to continuously provide comprehensive services and after-sale guarantees to the existing customers, said the automaker in a statement filed to the Hong Kong Stock Exchange.