Record fuel prices can be addressed through greater EV adoption, says BYD's vice president, as the Chinese giant welcomes its largest ever shipment of vehicles to Australia.
Record fuel prices can be addressed through greater EV adoption, says BYD's vice president, as the Chinese giant welcomes its largest ever shipment of vehicles to Australia.
BYD says electric vehicles can help address the global oil supply issues that have contributed to record fuel prices in Australia and around the world.
"Where we're standing right now in Melbourne is more than 11,000km away from the Strait of Hormuz," Mr Liu said, referring to the key shipping route in the Middle East affected by conflict between the US and Iran. Around 20 per cent of global oil supplies pass through the waterway, with disruptions helping push fuel prices higher around the world, including in Australia where "The uncertainty in the last three months around the Strait of Hormuz has impacted our customers' experience in the Australian market," Mr Liu said.
"We have seen increased demand for EVs in Australia, especially following the recent fuel crisis. We want to bring more models and more vehicles to consumers who are waiting for EVs.
"Mr Liu's comments come after another month of record electrified vehicle sales, which saw EV market share grow to a record 19.9 per cent in May 2026, with the"Australia is not only important to BYD's future, but also to the future of all EV brands," Mr Liu added. The BYD vice president also highlighted the Chinese company's broader "three green dreams" strategy, which echoes that of Tesla by encompassing solar energy, battery storage and electric vehicles.
"These three green dreams have once again demonstrated that they can help solve today's oil-price challenges," he said. "We do not want to be seen simply as a car brand. We want to serve the entire green energy industry chain.
"As Stephen mentioned earlier, we are involved not only in passenger vehicles, but also commercial vehicles, energy storage systems and batteries. In addition to supplying large-scale battery projects in South Australia and Victoria, Tesla benefited from a surge in residential battery installations, with more Australian households adding home energy storage than ever before last year. BYD remains one of the few automotive brands to manufacture its own batteries, having originally been founded as a battery maker.
Rivals including Ford are also moving into battery production and energy storage.in the US, where the first units are due to be delivered in 2027. However, Ford Australia has told CarExpert there are currently no plans to offer the technology locally.
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