China’s BYD ends full combustion engine cars to focus on electric, plug-in hybrids

China’s largest electric vehicle (EV) maker BYD Co Ltd (002594.SZ) said that as of last month it stopped making combustion engine vehicles and now produces full electric and heavily electrified plug-in hybrid cars only.
“In the future, BYD will focus on pure electric and plug-in hybrids in the automobile sector,” the company said in a statement filed to the Hong Kong Stock Exchange on Sunday.
BYD will not completely stop making gasoline engines since smaller highly efficient engines will continue to be used in plug-in hybrid cars.
Its move is in response to Beijing’s pledge to boost green energy consumption to bring carbon emissions to a peak by 2030.