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BYD, China’s leading EV manufacturer, is expanding its presence in Europe with the launch of its best-selling Atto 3 and Seal in Greece. BYD said more models will be released soon.
BYD expands in Europe, launches two new EVs in Greece
BYD is “just getting started” in Europe, said Michael Hsu, the region’s CEO. After dominating the domestic market, BYD is taking its best-selling EV overseas to challenge traditional automakers.
BYD started selling EVs in Europe (Norway) in 2021, but last year the company sold only 15,644 electric vehicles in the region.According to a global data collection company data forceThis will give BYD a 1.1% share of the European EV market.
In an interview with car news europe Xu said last week that BYD is learning “how Europeans will react” to new technologies, products and services the company offers.
Mr. Xu emphasized that Europe is a very different market than China or the United States, and multiple laws and languages must be accommodated.
Xu acknowledged that expanding sales in the region will take time, but said BYD aims to more than triple its market share. Even before we start producing vehicles at our Hungarian plant.
BYD aims to increase its market share to 5% by then, up from just 1.1% currently. The company’s European director confirmed that the factory will begin production in 2026. To speed up production, the company will also manufacture battery packs in Hungary.
Once operational, the plant will be able to produce 150,000 vehicles per year, with the ability to double that amount if necessary.
“It will be Europe for Europe,” Shu said, adding: “We will be closer to our customers, we will offer faster delivery, and people’s trust will be even higher.”
According to its Weibo page, BYD has launched two new EVs in Greece to expand its brand overseas. BYD launched Atto 3 and Seal EV, announcing its official entry into the Greek passenger car market.
Last year, BYD’s Atto 3 was the best-selling EV in Europe, with 12,363 units sold. BYD’s Seal sold 284 units, ranking fifth after Dolphin (1,079 units), Tan (1,055 units), and Han (849 units).
BYD said it plans to introduce additional vehicles such as the Dolphin, Song Plus EV Champion Edition, and Song Plus DM-i in the future.
Electrek’s view
Although BYD’s presence in the European EV market is small, the company plans to aggressively expand.
Earlier this year, BYD launched a “liberation war” against gasoline-powered cars to promote the spread of EVs by lowering prices and introducing significantly lower-priced models.
The Atto 3 costs just $16,644 (119,800 yuan) in China. In Europe, it starts at around $40,000 (37,990 euros). Once production begins at the Hungarian plant, BYD will be able to lower prices to nearer prices in China.
EV manufacturers have the advantage of manufacturing almost all parts in-house and being able to achieve low prices.
BYD is working on a next-generation EV platform that will further reduce costs and facilitate even cheaper electric models, according to a new report.
Meanwhile, BYD’s first car carrier entered Germany last month, carrying around 3,000 vehicles scheduled to be launched in the European market.
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