BYD discontinues production of fuel vehicles as its NEV sales reach new high

Chinese carmaker BYD on Sunday announced that it has stopped the production of fuel vehicles since last month and will focus on manufacturing pure electric and plug-in hybrid vehicles in the future.

The carmaker will continue the production and supply of fuel vehicle parts and components, and provide existing fuel vehicle customers with ongoing service and after-sales guarantees, the company said in an official statement filed to the Hong Kong Stock Exchange.

BYD's sales of new energy vehicles (NEVs) reached 104,878 in March, an increase of 333.06 percent year on year, the statement said.

The company sold a total of 286,329 NEVs in the first quarter of 2022, an increase of 422.97 percent year on year.

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