Friday, May 20, 2022

BYD became first automaker to say goodbye and stop producing ICE vehicles

A Chinese manufacturer BYD has become the first automaker in the world to officially stop the use of ICE vehicles. The manufacturer has declared that it will no longer make any cars other than plug-in hybrids and battery-electrics.

With 104,338 passenger vehicles sold in March, the company reported a record month for sales of PHEVs and electric vehicles. This year, BYD manufactured 287,530 new energy vehicles, a 416.96 percent increase over the count for Q1 2021.

Moreover, last year, BYD was one of six manufacturers to sign an agreement to stop ICE vehicles. Ford, GM, Jaguar Land Rover, Mercedes-Benz, and Volvo rounded out the top 10.

Furthermore, BYD Auto is China’s leading maker of electric vehicles. A subsidiary of BYD Co Ltd has created in 1995 as a battery manufacturing firm. The first mass-produced plug-in hybrid car was BYD’s F3DM, which has launched in 2008. During that year, Warren Buffett’s Berkshire Hathaway purchased a 10% interest in BYD through his investment holding firm.

BYD also manufactures electric buses, which are already in service in a number of nations throughout the globe. With a value of US$103.58 billion, BYD is more valuable than Mercedes-Benz, Ford, General Motors and BMW in the automotive industry.

Read Also: BMW announced shocking and massive rise in price of X7 SUV in Pakistan

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