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.
