Shanghai (ZXZC)- BYD Company announced today it had stopped the production of oil-fueled vehicles in March and will make battery electric and plug-in hybrid electric vehicles only.

BYD said the discontinued production of oil-fueled vehicles was to align with its strategic development requirements. Meanwhile, it will continue to produce and supply the components of oil-fueled vehicles, so as to continuously serve its existing customers.

On the same day, BYD announced it produced and sold no oil-fueled vehicles in March 2022. For the first quarter of the year, its oil-fueled vehicle outputs and sales reached only 4,635 units and 5,049 units respectively, nosediving 91.18% and 89.78% from a year ago.

However, the company still scored a three-digit year-on-year growth in overall Mar. automobile sales thanks to the 333.06% hike in its NEV sales.

Of the NEVs sold last month, 104,338 units were passenger vehicles, representing a 346.16% surge year-over-year. The monthly new energy passenger vehicle (NEPV) sales were composed of 53,664 battery electric vehicles (BEVs) and 50,674 plug-in hybrid electric vehicles (PHEVs).

As to specific models, the sales of the BYD Han reached 12,359 units in March. Notably, the Han DM recorded a 524.9% month-on-month leap. The company also saw the sales of the Song, Qin and Yuan families, and the e series reach 26,729 units, 24,797 units, 12,881 units and 4,164 respectively. Besides, there were 10,501 Dolphin BEVs sold in March, up 22.6% from the previous month.