BYD Co. has revealed an innovative hybrid powertrain that can drive over 2,000 kilometers without needing to be recharged or refueled. This remarkable development intensifies the competition in the electric vehicle market where it places major players such as Toyota Motor Corp. and Volkswagen AG at par. The novel technology— intended to keep BYD ahead of its competitors— is soon to hit the market with two sedans whose price is less than 100,000 yuan ($13,800). This was unveiled during a live-streamed event from China that signals the official launch of this new pioneering technology.
The accomplishment of BYD: its dual-mode plug-in electric hybrid cars have a capacity to reach this far in distance — Singapore to Bangkok, New York to Miami, or Munich to Madrid — with one charge and full tank which was possible by achieving this milestone. It demonstrates the continuous endeavor of BYD towards fuel economy after it introduced its first hybrids back in 2008.
The price cuts are still promoting the new Shenzhen long-range hybrids introduced by BYD at a loss to the company. Nearly 1 million vehicles have already been delivered this year as part of that 3 million sold last year; one half of all hybrids purchased in China being BYDs speaks volumes about their role in driving both revenue and profit. Even though the details were few, just hearing about it caused BYD’s shares listed on Hong Kong stock exchange to go up by almost 4% on Wednesday.
Worldwide, car manufacturers are all working towards one common goal: addressing consumer’s range anxiety in a way that also offers eco-friendly options. In an example, Toyota has recently come up with prototypes of another generation of internal combustion engines that use hydrogen, gasoline or other sources apart from batteries.
During the event, BYD highlighted that its plug-in hybrid achieved up to 2,500 kilometers of range in tests. Currently, these upgrades are for vehicles manufactured in China, but exports are anticipated soon. Both electric and hybrid vehicles are continually pushing range boundaries to address consumer concerns about switching from traditional gasoline-powered cars.
BYD ceased production of fossil fuel-only vehicles in early 2022 and has been increasing hybrid exports to emerging markets lacking battery-charging infrastructure. The first two vehicles featuring the long-range capabilities are the mid-size sedans Qin L and Seal 06, unveiled at the Beijing Auto Show in April, part of BYD’s Dynasty and Ocean series, respectively.
