The latest sedan versions of the BYD Qin L and Seal 06 models feature the Chinese automaker’s latest plug-in hybrid technology. Priced from 99,800 yuan ($13,775), BUD says owners of vehicles using the new PHEV technology can save up to 9,682 yuan a year in fuel costs compared to those who drive gasoline models.
With a fully charged battery and a full gasoline tank, the technology can ensure a driving range of 2,100 kilometers (1,249 miles), Company Chairman Wang Chuanfu said. The new tech, now in its fifth generation, achieves a record low fuel consumption of 2.9 liters per 100 km (62.1 miles), even after the batteries have been depleted.
The previous generation of BYD’s plug-in hybrid technology offered a driving range of a few dozen kilometers on batteries and fuel consumption of 3.8 liters per 100 km purely on the gasoline engine and buoyed the automaker’s rapid growth since 2021 with models such as the Qin Plus DM-i sedan and Song Plus DM-i SUV.
Plug-in hybrids priced from 79,800 yuan have made up the bulk of BYD’s sales in the past three years, with an accumulated 3.6 million such cars sold by the company.
The Chinese company slashed prices of its plug-in hybrids by 10-22% in the first quarter, with Qin and Song outselling gasoline models such as Lavida and Sagitar in the mass market with lower prices and less fuel consumption attracting cost-sensitive Chinese buyers.
Globally, BYD, which has been accelerating its international expansion, still trails multi-branded automakers including Toyota, Volkswagen, General Motors and Stellantis in sales.
BYD, together with other Chinese EV makers, is posing more of a challenge to Japanese automakers in overseas markets such as Southeast Asia, Australia and Middle East, where governments impose fewer trade barriers and tariffs.
Material from Reuters was used in this report.