BYD shares hit new high since Nov 2023 on strong May sales, new hybrid tech
BYD shares hit new high since Nov 2023 on strong May sales, new hybrid tech

BYD shares hit new high since Nov 2023 on strong May sales, new hybrid tech

 

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Chinese electric vehicle maker BYD Company surged nearly 6% to hit a high of HK$232.2 at one point. Its Shenzhen-listed shares surged nearly 4% to hit 237.82 yuan at one point, marking a new high since November 2023. 

BYD said it sold 331,817 vehicles in May, rising by 38% from a year earlier and up 5.9% from the previous month. During the first five months of the year, BYD sold 1.27 million EVs, increasing by 26.8% from the same period last year. 

Last week, BYD released its fifth-generation DM (dual mode) hybrid technology for plug-in hybrid electric vehicles with a comprehensive driving range of 2,100 km.

With the technology, BYD’s plug-in hybrid vehicles can lead globally in a series of key indicators, achieving a thermal efficiency of 46.06%, a fuel consumption of 2.9 liters per 100 km even when in an electricity-deficit state, and a comprehensive range of 2,100 km, BYD chairman Wang Chuanfu said at a launch event.

At the event, BYD also unveiled two car models powered by the new technology, the Qin L DM-i and the Seal 06 DM-i, which use only a third of the fuel consumed by traditional cars and triple the range. Prices range from 99,800 yuan ($14,000) to 139,800 yuan.

Wang said that BYD is confident in leading the global development of plug-in hybrid technology and promoting the green transformation of the global auto industry.

The Shenzhen-based carmaker has sold a cumulative total of more than 3.6 million plug-in hybrid electric vehicles.