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BYD sees NEV shift in China by 2030
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Chinese automaker BYD Co Ltd expects the country鈥檚 shift to cleaner new-energy vehicles to be complete in just over a decade, an aggressive timeframe that would challenge traditional carmakers in the world鈥檚 top auto market.
All vehicles in the country will be 鈥渆lectrified鈥 by 2030, which could range from full electric cars to mild hybrids, BYD Chairman Wang Chuanfu said yesterday. BYD, backed by Warren Buffett, has already invested heavily in the NEV market.
Carmakers around the world are grappling with government plans to shift away from petrol engine cars to newer, less polluting technologies 鈥 a trend that is creating one of the most seismic shifts the automotive industry has gone through.
Earlier this month, a senior Chinese official said the country had begun studying when to ban the production and sale of cars using traditional fuels, without giving a timeframe. The UK and France have said they will ban new petrol and diesel cars from 2040.
鈥淲e are very confident about all the timetables (to eliminate fossil fuel cars) and we think it will happen earlier than expected,鈥 Wang said at an event in Shenzhen.
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