During a streaming event in China, BYD revealed that this technology will be integrated immediately into two sedans that will cost less than 100,000 yuan (around €13,000). These new hybrid vehicles – about which we know almost nothing, so caution is required – can cover quite crazy distances with one charge and a full tank: imagine connecting Singapore to Bangkok, New York to Miami, or even Munich to Madrid , without having to go through the service station and the charging station! This development is decisive for BYD, which has sought to reduce fuel consumption since the launch of its first hybrids in 2008.
BYD conquers the world
The positioning of these long-distance hybrids could further intensify the price war. In 2023, BYD sold 3 million cars and has already delivered nearly a million vehicles in the first four months of this year. In China, one in two hybrid cars sold is a BYD — enough to say that this business plays a crucial role for the manufacturer’s finances.
BYD stopped producing cars powered entirely by fossil fuels two years ago, and the automaker has stepped up exports of hybrids to emerging markets that lack charging infrastructure. During this famous online event, the company claimed that its plug-in hybrid had reached up to 2,500 kilometers of range during tests. For now, these improvements are intended for cars made in China, but they are expected to be exported soon.
Europe has become a key market for the Chinese manufacturer. BYD certainly faces significant challenges there, notably the imposition of customs duties on its products in order to protect the European automobile industry and its 3 million workers. The EU believes that Chinese manufacturers benefit from unfair subsidies, and this concerns BYD as well as Geely and SAIC Motor. Suffice it to say that we are not likely to see these €13,000 sedans hitting our roads…
Still, many experts believe that tariffs alone will not be enough to slow BYD’s advance in the European market. BYD founder Wang Chuanfu sees the tariffs as a sign of the new power of China’s auto industry. Since founding BYD as a battery maker in 1995, Wang has transformed the company into the world’s second-largest battery maker and second-largest electric car maker, briefly overtaking Tesla in late 2023.
This year, BYD plans to sell 4 million cars, split evenly between all-electric and hybrid vehicles. Models like the Dolphin and Seal offer standard features that competitors often charge extra for, helping to win over drivers.
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