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Buffett's BYD becomes first carmaker to stop gas-powered vehicle sales as it details its Model 3 competitor's global release

BYD's direct Tesla Model 3 competitor Seal (image: BYD)
BYD's direct Tesla Model 3 competitor Seal (image: BYD)
Warren Buffett's investment in BYD is now prophetic as the company just became the first legacy carmaker to wean itself off ICE-powered vehicles completely. BYD announced that it hasn't produced or sold a single car that runs only on an internal combustion engine this March, while BYD Australia detailed the release date of the carmaker's direct Tesla Model 3 competitor.

Major carmakers like VW are stretching the timeline for weaning their portfolio off ICE vehicles completely to 2035, or separating their legacy and EV businesses like Ford. The Warren Buffett-backed BYD, however, has become the first one to stop selling gas-powered cars right now. As if to confirm its status as China's top NEV (New Energy Vehicle) maker, BYD announced that it hasn't produced or sold a single car powered solely by an internal combustion engine in March.

BYD's President said last year that there will still be a transition period from plug-in hybrids to purely electric cars, but the trend has already been set and these are the only two types that the company will be making and selling from now on. Current BYD ICE car owners will, of course, have their warranty contracts honored, while the company will also provide parts and services for the complete lifecycle of its existing legacy vehicles.

In addition, BYD Australia has detailed the global release date of the carmaker's direct Tesla Model 3 competitor that is known as the Seal in China, but may launch as the Alto 4 in Australia. The BYD Seal/Alto 4 preorders will start in the September quarter, said Luke Todd from Australia's BYD distributor, while "at this stage we are aiming for March 2023 delivery, and see no reason why that will not be achieved." The Model 3's competitor by BYD will be cheaper and come with the same innovative blade battery, coupled with a fast 800V charging system, while the Seal's styling is crafted by the ex-Audi design chief Wolfgang Egger.

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BYD Seal/Alto 4 front
BYD Seal/Alto 4 rear
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 04 > Buffett's BYD becomes first carmaker to stop gas-powered vehicle sales as it details its Model 3 competitor's global release
Daniel Zlatev, 2022-04- 6 (Update: 2022-04- 6)