Warren Buffet-backed Chinese carmaker BYD has announced that it has built its last car without a plug. It’s not just the company’s future that’s electric— the company’s present is, too!
Reuters is reporting that BYD Co Ltd (002594.SZ), the largest electric car maker in the world’s largest new car market, stopped making combustion-engined vehicles last month, and is now fully committed to producing fully electric and heavily electrified plug-in hybrid cars (PHEVs) only.
“In the future, BYD will focus on pure electric and plug-in hybrids in the automobile sector,” the company said in a statement filed to the Hong Kong Stock Exchange on Sunday.
While mostly known in the US because of billionaire Warren Buffet’s involvement in the company, BYD has sold thousands of electric buses globally. Many of those were built in BYD’s $250 million Lancaster, CA factory. What’s more, the company is also selling modern, high-quality electric cars in Europe where the company competes with both Tesla and the Volvo Recharge models. The BYD Tang SUV (shown here) packs nearly 600 HP, goes 0-60 mph in about 4.5 seconds, and retails for under $50,000 (depending on the exchange rate).
You can find out more about the BYD Tang EV, below, and let us know what you think of the Chinese company’s move into a purely plug-in portfolio in the comments section at the bottom of the page.
BYD Tang EV
SOURCE | IMAGES: BYD, VIA REUTERS.
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