BEIJING, Oct 30 (Reuters) - China's Geely Automobile

Holdings ( GELYF ) took the wraps off its latest hybrid technology on

Wednesday, boasting some better fuel economy and driving range

figures than rival technology from local plug-in hybrid champion

BYD .

The Leishen EM-i technology can consume just 2.62 litres of

fuel per 100 kilometres (62.1 miles) and offer a combined range

- using both gasoline and battery - of 2,390.5 km, Geely said,

citing media test results.

BYD's latest-generation plug-in hybrid system, launched in

May, touts fuel consumption of 2.9 litres per 100 km on depleted

batteries and a driving range of 2,100 km with a fully charged

battery and a full gasoline tank.

The first car running on Geely's new hybrid system, the

Galaxy Starship 7 crossover, can achieve fuel consumption of

three litres per 100 km in tests on real roads, Geely said.

Geely's Leishen hybrid technologies will also be used in

Renault, Volvo and Lotus-branded cars, it added.

The race for improved hybrid fuel technology comes as Geely

seeks to close the gap with BYD amid intensifying competition in

the world's largest auto market, as China's weak economy weighs

on electric vehicle sales growth.

BYD sat atop China's EV and plug-in hybrid sales rankings

with a 34.6% share of the market in the first nine months of

this year, well ahead of second-placed Geely with 7.4%, industry

data showed. Tesla took the third spot with 6.5%.

BYD smashed its quarterly sales record in July-September,

primarily driven by strong growth in plug-in hybrid sales, which

jumped 76% to 685,830 vehicles, according to Reuters'

calculations based on BYD's monthly data.