Chinese EV and battery manufacturer BYD has announced to cease production of fossil-fuel-powered vehicles. BYD announced in a tweet that it has not produced any combustion models since March.
BYD’s EV sales volume reached nearly 604,000 units in 2021, an increase of 218 percent, according to Caixin’s calculations. Production of other vehicle types, on the other hand, declined by 43 percent and amounted to only 137,000 units. Data from the China Passenger Car Association (CPCA) shows that BYD was the best-selling EV manufacturer in China last year, with more than 17 percent market share. SAIC-GM-Wuling Automobile Co.Ltd. ranked second with about 12 percent, and Tesla was third with 9 percent.
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