Chinese company plan is “flooding” the European market with models of electric cars from different segments and values
According to the projections of the S&P Global Mobilitya Byd It should more than double its sales in Europe this year, with about 186 thousand electric cars sold. Until 2029, sales of the Chinese giant can reach the 400,000 mark.
The results impress and are part of aggressive brand planning to increase their participation in the European automotive market. No wonder the company has overcome rivals like Tesla on the continent.
Chinese giant is “flooding” European market
BYD’s plan is clear and was described by the brand’s special consultant to Europe, Alfredo Altavilla, at an event in the UK. On the occasion, the company launched the Dolphin Surf model, which aims to be one of the cheapest electric vehicles in Europe, coming out for less than 19 thousand euros (about $ 123,000).
The goal of the Chinese giant is to “flood” the European market with versions of different segments and values. “We are launching six cars in less than a year. We are covering all the most important segments in the European automotive market,” explained Altavilla.
Despite becoming famous for the cheapest models, BYD also sells luxury vehicles under the brands Denza Yangwang. This is a response to Porsche and other German luxury brands. The information is from the portal ELECREK.
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New BYD factory in Europe
- To ensure advancement in the European market, the brand still intends to enhance the production of vehicles there.
- For this, it will have a new factory in Hungary.
- Operations are scheduled to start by the end of the year and should allow you to serve Europe faster.
- BYD’s projection is that its factories in Hungary and Turkey have a combined production capacity of 500,000 units.
Collaboration for the digital look
Alessandro Di Lorenzo has a degree in Journalism from the Federal University of Rio Grande do Sul (UFRGS) and has been working in the area since 2014. He worked on BandNews FM newsrooms in Porto Alegre and São Paulo.
