SHENZHEN, China--(BUSINESS WIRE)--BYD’s second-generation Dual-Mode, Plug-in Hybrid Electric sedan, the QIN (pronounced “cheen”), has set a second record month of sales in February. Trends in March now make it “China’s Best-Selling Electric Vehicle” according to China’s National Passenger Car Association.
After its much anticipated launch in China this past December, the BYD QIN has been selling at record numbers, so much that BYD has had trouble meeting demand. In the first weeks of 2014, more than 6,000 vehicles were sold accounting for over half (50%) of the Chinese new-energy vehicle market. Analysts are not expecting sales to slow down any time soon as both Shanghai and Beijing announced earlier this month that they will now permit BYD new energy vehicles to qualify for local municipality green-vehicle incentives and be licensed in those regions. These signals along with the Chinese government’s new fund committed for clean-air and fuel-efficient technologies in the form of consumer and government purchasing incentives are launching a new era in the China domestic automobile industry.
BYD Senior Vice President Stella Li stated, “the news that QIN is a top selling vehicle should come as no surprise as there is simply no other vehicle this fast, efficient, stylish and affordable on the market, anywhere.” The QIN consumes only 1.6 liters of fuel for every one-hundred kilometers (~62 miles) and accelerates 0-100 km/h (60 mph) in 5.9 seconds. This is only the first of many of BYD super-electric vehicles launching as the electric version of the S7-styled SUV internally named the Tang (pronounced “Tah-ng”) is set to be released later this year. The QIN is currently available to domestic Chinese and Latin American markets and senior officials at BYD have discussed expanding exported versions of these new energy vehicles in the coming years.
BYD Company Ltd. is one of China’s largest companies to have successfully expanded globally. Specializing in battery technologies, their green mission to “solve the whole problem” has made them industry pioneers and leaders in several High-tech sectors including High-efficiency Automobiles, Electrified Public Transportation, Environmentally-Friendly Energy Storage, Affordable Solar Power and Information Technology and Original Design Manufacturing (ODM) services.
As the world’s largest manufacturer of rechargeable batteries, their mission to create safer and more environmentally friendly battery technologies has led to the development of the BYD Iron Phosphate (or "Fe") Battery. This fire-safe, completely recyclable and incredibly long-cycle technology has become the core of their clean energy platform that has expanded into automobiles, buses, trucks, utility vehicles and energy storage facilities. BYD and all of their shareholders, including the great American Investor Warren Buffett, see these environmentally and economically forward products as the way of the future.
BYD has made a strong entrance to the North, Central and South American markets with their battery electric buses, and lineup of automobiles. Their mission lies not just in sales growth, but also in sociological integration and local job creation as they have poured incredible investments into developing offices, dealerships and manufacturing facilities in the local communities they now call home, truly a first for Chinese companies. For more information, please visit www.byd.com/pv/ or www.facebook.com/bydcompany.