On April 3, BYD Auto announced that according to its strategic development needs, it will stop the production of fuel vehicles from March 2022. In the future, BYD will focus on pure electric and plug-in hybrid vehicles in the automotive sector. This marks that BYD has become the first car company in the world to officially announce the cessation of the production of fuel vehicles.

At the same time, BYD will continue to provide existing fuel vehicle customers with comprehensive services and after-sales guarantees, as well as spare parts supply throughout the life cycle to ensure worry-free travel.

Against the background of the global spread of covid-19 and the tension of the global supply chain, China's auto industry has achieved positive growth against the trend, and new energy vehicles have become one of the bright spots.

According to data from the China Automobile Association, in 2021, our country's automobile production and sales will be 26.082 million and 26.275 million respectively, a year-on-year increase of 3.4% and 3.8% respectively, ending the downward trend for three consecutive years. The sales of new energy vehicles reached 3.521 million units, a year-on-year increase of 1.6 times, ranking first in the world for seven consecutive years.

The China Passenger Transport Association also pointed out in the analysis report that among the 860,000 net retail sales in 2021, the decrease of 1.02 million traditional fuel vehicles represents a year-on-year decrease of 6%, while the increase of 1.88 million new energy vehicles represents a year-on-year increase of 169%. New energy vehicles contributed 9 percentage points to the year-on-year growth rate of passenger vehicles throughout the year. In February this year, the penetration rate of self-owned brand new energy vehicles was 38%, and the penetration rate of new energy vehicles among luxury cars was as high as 29.4%.

Industry insiders said that in 2021, when the automotive industry faces unfavorable factors such as chip shortages and high raw material prices, the annual automobile production and sales will show a steady and increasing development trend, especially new energy vehicles will become the biggest bright spot. Policy-driven shift to market-driven new development stage.

In the context of the "dual carbon" goal, in 2021, a series of documents related to new energy vehicles have been issued intensively, which has strongly promoted the development of the industry. The independent brands represented by BYD are leading the reform of the automobile industry by focusing on the national "dual carbon" strategic goal.

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