BYD has initiated a new wave of model updates, signaling a strong offensive against traditional fuel vehicle models. This move is just the beginning of BYD’s ambitious plans, according to sources familiar with the matter cited in a report by 36kr.
At a recent internal meeting, BYD’s core management team revealed plans for a “liberation battle” over the next three years, mobilizing technology and industry chain strengths. The company will focus on updating its DM (Dual Mode) hybrid system and its all-electric e-Platform, the report stated.
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Data compiled by CnEVPost shows that BYD sold approximately half of its 3.02 million new energy vehicle (NEV) sales last year from plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) each.
BYD introduced its DM hybrid technology platform in 2008 and launched its fourth-generation DM platform in 2021, offering DM-p for performance-oriented models and DM-i for energy consumption-oriented models.
The upcoming fifth-generation DM system, particularly the DM-i branch, is expected to significantly improve fuel efficiency, with a potential consumption as low as 2.9 L per 100 kilometers and a range of close to 2,000 kilometers on a full tank of fuel and charge.
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BYD’s e-Platform, currently at version 3.0, could see an update to version 4.0 this year. The e-Platform focuses on integration, lightweight design, and efficiency, with plans to further enhance component integration in the upcoming version.
BYD’s overarching goal with these updates is to capture more market share from gasoline cars and accelerate NEV penetration over the next three years. This strategy may impact competitors in the NEV market.
The recent launch of the Qin Plus Glory Edition and Chaser 05 Glory Edition is part of BYD’s strategy to compete with traditional gasoline models by offering lower-priced NEVs.
