China’s largest electric vehicle (EV) maker BYD has announced it has stopped making combustion engine vehicles and now produces only full electric and plug-in hybrid cars.
The company said in a statement, filed to the Hong Kong Stock Exchange, that as of last month “BYD will focus on pure electric and plug-in hybrids in the automobile sector”.
The announcement is in response to Beijing’s pledge to boost green energy consumption to bring carbon emissions to a peak by 2030.
BYD sold 104,878 “new energy vehicles” in March, a more than four-fold increase from a year earlier. Sales were divided approximately equally, with pure EVs marginally outselling plug-in hybrids.
The company confirmed in the statement that it will continue providing comprehensive services and supplies of spare parts throughout the life cycle to existing fuel vehicle customers.