BYD plans to leverage all of its technology expertise and upstream/downstream industry chains to win in a “liberation battle” over three years, 36kr reported, citing the Chinese electric vehicle giant’s core management team in a recent internal meeting.
BYD to update its hybrid hybrid system and all-electric platform
As per the report, BYD will update its current DM (Dual Mode) hybrid system and its electric-exclusive e-Platform.
BYD plans to introduce the fifth-gen DM system, with the DM-i lowering fuel consumption to 2.9 L/100 km and delivering nearly 2,000 km of range on a full tank and full charge.
For reference, the average range of traditional gas-powered vehicles only hits approximately 600 km in a full tank. Therefore, even local counterparts’ products will likely struggle to beat BYD’s fifth-gen DM system.
Meanwhile, BYD may update the e-Platform from 3.0 to 4.0 in 2024, as per the report sources. The new e-Platform 4.0 aims to improve the vehicle’s component integration to reduce wiring harnesses, presenting new cost-reduction prospects.
Brief background
BYD is a new energy vehicle maker in China that sells both plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).
It launched the DM hybrid technology platform in 2008, followed by the fourth-gen DM platform in 2021. It separated the technology into two: the more performance-focused DM-p and the more energy efficiency-oriented DM-i.
On the other hand, BYD introduced its e-Platform 1.0 in 2010. The e-Platform 3.0’s launch followed in 2021, along with its fourth-gen DM technology. Notably, most of the brand’s all-electric vehicle models ride on the e-Platform 3.0, enabling them to have improved integration, efficiency, and lightweight design.
BYD’s primary goal
It is worth noting that BYD’s primary goal in the said “liberation battle” is to snatch a bigger market share from gas-powered cars in China.
It also aims to boost the country’s NEV penetration rate to a “whole new level” within only three years. However, the process will surely affect other Chinese NEV makers, as the move to cut costs will trigger another price war.
On February 19, BYD introduced the new Qin Plus Glory Edition and Chaser 05 Glory Edition with lower prices as it seeks to further beat gas-powered models in terms of affordability. This major push will significantly threaten legacy automakers, especially considering the arrival of a new, even cheaper EV platform.
While BYD has no plans yet to penetrate the US market, it still enables the Chinese giant to snatch a substantial share in key global markets. It would be interesting to see if it can overthrow American pioneer Tesla again this year after beating its sales in Q4 2023.
