Shanghai (ZXZC)- BYD is gradually decreasing the proportion of oil-fueled vehicles in production and attempts to replace ICEV (internal combustion engine vehicle) with DM-i models in the future, the company recently disclosed at a meeting held for investors.

The automaker also revealed it plans to terminate the production of the F3, a compact oil-fueled sedan model launched in 2005, in October this year. Other ICEV models, which are sharing assembly lines with hybrid models, will bow out of production as appropriate in the future.

BYD Song PLUS DM-i; photo credit: BYD

According to BYD's announcement, the company's sales of DM models (referring to plug-in hybrid electric passenger vehicle models) reached 30,126 units in August, rocketing 555.63% from a year earlier and accounting for 44.5% of BYD's total passenger vehicle sales. The sales of the Song DM and the Tang DM series amounted to 8,726 units and 5,433 units last month, soaring 1,594.4% and 256.3% year over year respectively.  

Notably, the year-on-year increase in the monthly sales of BYD's DM models was standing above 170% for 10 consecutive months as of August.

On Jan. 11, BYD launched its DM-i super hybrid technology that focuses on ultra-low fuel consumption. At the same time, the company kicked off the presale of three new models armed with the DM-i system, namely the Qin PLUS DM-i, the Song PLUS DM-I, and the Tang DM-i, which all hit the market before May.

BYD Qin PLUS DM-i; photo credit: BYD

The advent of the DM-i-powered models significantly drove BYD's sales. For instance, the sales of the BYD Qin PLUS DM-i reached up to 13,043 units in August, growing 16.1% month on month and making up 43% of BYD's DM models sales.