■BYD plans to expand EV market share in Europe■

■BYD Europe?CEO Michael Shu outlined the automaker's plans for Europe:

"BYD is ‘just getting started’ in Europe with plans to triple its EV market share"

March 13, source: elektrek, ARI_wb

■China’s?BYD?will challenge automakers in Europe with plans to triple its share in the EV market by 2025. After dominating its home market, BYD is expanding its brand overseas.

BYD began selling vehicles in Europe in 2021, starting in Norway. Last year, the company sold 15,644 electric cars in the region. According to global data collection firm?DataForce, that would give it a 1.1% share of Europe’s EV market.

However, the company is “just getting started” in the region, says Europe CEO Michael Shu, and expects to ramp up sales quickly.

In a new interview with?Automotive News Europe, Shu said BYD is discovering “how Europeans respond” to the brand’s tech, products, and services. Europe is much different from other key auto markets like China or the US, with several legislations and languages.

Although Shu said increasing sales will take time, it expects to gain EV market share in Europe this year.

BYD aims for a 5% share of EV sales in Europe, even before production begins in Hungary. Shu confirmed the plant will start producing vehicles before 2026. The facility will build electric cars with battery packs built in Hungary.

#byd #ev