It’s hard to imagine that it will stay that way, but the Chinese one electric car builder BYD recently has the market leader Tesla with its sales figures overtaken in the first half of the year – also because the competitor in the Far East with its production facilities was largely spared from lockdowns. Now the “Tesla hunter” wants to attack in Europe.
After BYD declared in July
that there is a distributor for that Netherlands have found, the car manufacturer now wants to enter the German and Swedish market – and that before the end of the year. To this end, the Chinese are entering into a partnership with the Swedish “Hedin Mobility Group”, which it says is one of the largest European dealer groups with 235 sales locations in eight countries to date. As Hedin reports
, the company wants vehicles from BYD in Sweden and Germany distribute, sell and offer corresponding services.
Accordingly, BYD will start selling in October, and the first vehicles are to be delivered in the fourth quarter. The first stores in selected major cities are to show a selection of models from October. It is not yet known which models BYD will offer at what price. The manufacturer wants to set up a German (www.bydauto.de) and a Swedish website in August.
BYD electric cars are among the most popular in China
In China BYD’s electric cars are among the most popular with a market share of 15.5 percent (as of April), just ahead of Tesla. According to earlier information, BYD intends to do so in the coming year sell up to 200,000 e-cars on the European market
. The group produces vehicles at more than 30 locations worldwide and also manufactures electric buses, trucks and vans.
The announcement by BYD represents the advance of Chinese electric car manufacturers on the world market. Especially in Europe, where corporations like Volkswagen or Renault also suffer from a lack of chips and delivery bottlenecks, manufacturers from the Far East are currently trying to conquer market shares. manager magazin reported on the development in a comprehensive industry report .
BYD has been building vehicles for around two decades and was founded in 1995 by the Chinese chemist Wang Chuanfu (56) as a battery manufacturer. According to the “Financial Times”, the group has now moved up to second place behind CATL in the ranking of the world’s largest battery cell manufacturers.
BYD also produces batteries for mobile devices. The Chinese conglomerate achieved sales of the equivalent of around 30 billion euros last year, and net income fell to 429 million euros.
The conglomerate BYD is currently worth the equivalent of around 101 billion euros on the stock exchange share
bucked the weak overall trend by more than 30 percent. For comparison: Volkswagen, the largest European car manufacturer, currently has a market capitalization of around 86 billion euros. Those listed in the Dax preferred stock
of Wolfsburg have lost a good 25 percent of their value in the past six months.