BYD, China’s prominent electric vehicle manufacturer, has unveiled its latest plug-in hybrid technology, escalating the competition with gasoline-powered rivals such as Toyota and Volkswagen. The fifth generation of this innovative technology, launched on Tuesday, boasts a record-low fuel consumption of 2.9 litres per 100 kilometres (62.1 miles) when operating solely on the gasoline engine with a depleted battery.
During an event in Xian, the capital of Shaanxi province, BYD’s Chairman Wang Chuanfu unveiled the advanced hybrid technology, highlighting its impressive fuel and cost-saving capabilities. With a fully charged battery and a full gasoline tank, the technology can ensure a driving range of 2,100 kilometres, according to Wang’s statements in the city where the company’s first automaking factory was located.
Alongside the technology launch, BYD introduced sedan versions of its Qin L and Seal 06 models, both equipped with the new hybrid system and priced from 99,800 yuan (USD 13,775). The company claims that customers utilising this technology can save up to 9,682 yuan (USD 1,335) annually in fuel costs compared to those driving gasoline-powered models.
BYD’s previous generation of plug-in hybrid technology, which boasted a driving range of dozens of kilometres on battery power and a fuel consumption of 3.8 litres per 100 kilometres when solely relying on the gasoline engine, has been a driving force behind the company’s rapid growth since 2021. Models like the Qin Plus DM-i sedan and Song Plus DM-i SUV, equipped with this technology, have contributed to BYD’s success.
Priced from 79,800 yuan, plug-in hybrids have accounted for the majority of BYD’s sales over the past three years, with an accumulated 3.6 million such vehicles sold by the company. In the first quarter of this year, BYD slashed prices of its plug-in hybrids by 10-22%, with models like the Qin and Song outselling gasoline-powered vehicles in the mass market due to their lower prices and reduced fuel consumption, appealing to cost-conscious Chinese buyers.
While BYD has been accelerating its international expansion, the Chinese automaker still trails multi-branded manufacturers like Toyota, Volkswagen, General Motors, and Stellantis in global sales. However, BYD, along with other Chinese EV makers, is posing a growing challenge to Japanese automakers in overseas markets such as Southeast Asia, Australia, and the Middle East, where governments impose fewer trade barriers and tariffs.
As the automotive industry continues to evolve, BYD’s advanced hybrid technology demonstrates the company’s commitment to innovation and its determination to compete with established players in the global market. The introduction of this fuel-efficient and cost-effective hybrid system is expected to further intensify the competition among automakers as they strive to meet the changing demands of consumers and address environmental concerns.