BYD Increase EV Sales In Europe
Byd says it has well over 10,000 cars that are now in Europe, and it’s going to triple its market share in Europe. It doesn’t care what the European Union says about any penalties against it.
Byd is saying, You know what? We’re coming to Europe. We’re already here. We’ve got thousands and thousands and thousands of cars here.
They’re even sending new car ships as well to Europe. What this means is very good chance BYD are going to reduce the cost price or the sale price of their cars in Europe. BYD Increase EV Sales In Europe
Rapid Growth Strategy
Byd plan on tripling their market share in Europe. I actually think this won’t be very hard for BYD to do. The market share in Europe right now is pretty small.
So this is actually a very, very realistic goal. Now, BYD, they’re currently facing some challenges in Europe. There’s no question about that.
There’s been a report coming out recently. There’s been a fair few problems with BYD vehicles. BYD Increase EV Sales In Europe
European Response to BYD
But, and I’m talking about in Europe, by the way. But that aside, I think those things are things that BYD can easily overcome.
Byd began selling vehicles in Europe or EVs in Europe in 2021. They began in Norway, as it would make sense, but that was three years ago.
Investment in European Production
So far, BYD have only sold 15,644 cars all across Europe. Now, that’s according to from data force. That means it has a 1% share of Europe’s EV market.
So BYD want to increase that to 3 or 4%. The company says they’re just getting started in the region. And realistically, I agree BYD you can easily get 3, 4, maybe even 5% this year. BYD Increase EV Sales In Europe
And they need to this year because sales of cars in China are dropping. No question about that. Ev sales are continuing to take a high percentage of market share.
But car sales in China, they’re under a lot of strain right now. You’ve got Japanese companies. Nissan is saying they’re going to slow down production in China.
Product Positioning
There’s obviously an economic crisis going on there. In an interview with Automotive News Europe, BYD said that they are discovering how Europeans respond to the brand’s technology, products, and services.
Europe is very different from other key auto markets like China or the United States, with several legislations and languages. BYD Increase EV Sales In Europe
BYD is saying they actually increase their market share to 5%. That’s actually five times their market share. That’s a pretty big deal. Keep in mind, BYD, eventually, they won’t have to worry about any sanctions.
Next-Gen EVs and Plug-in Hybrids
The reason is because they’re currently building an electric car factory in Hungary, and that will actually be producing EVs in 2026.
It’ll build electric cars and battery packs. So yeah, I mean, BWD, they’re really coming for Europe.
If you’re a European car manufacturer, you’ve got to be pretty concerned. BYD European chief said that once production begins in Europe, we will be closer to customers, offering faster deliveries, and people can trust us more.
It will be Europe for Europe. Now, obviously, people in Europe might agree or disagree with that. It depends on your perspective because a lot of people in Europe still don’t know who BYD are. BYD Increase EV Sales In Europe
The Hungary plant will be able to build around 150,000 vehicles a year with the ability to double output to 300,000 at some point in the future.
Now, Shu from BYD, she said that the product is premium, our price is mainstream, so we call this affordable premium.
Now, do you guys agree with that? Do you agree that BWD’s product is premium? I think some of their product is definitely premium, some of it is not.
It really depends on the car you’re talking about. For example, the cheapest seagull or the cheapest dolphin, I don’t think you’d call those premium, but BYD has some really, really very amazing premium priced cars like the new Yang Wang vehicles, the new supercar, definitely premium there.
Introducing the SEAL U
But what do you guys think about the mainstream, Addo 3, the Seal? Would you say that’s premium? Anyhow, BYd showcased off some of their vehicles at the recent Geneva Auto Show, and it said it was testing the market’s reaction.
Byd next-gen EVs and plug-in hybrids are set to hit the European market. One of those is the SEAL U. Now, the SEAL U is actually a plug-in hybrid.
However, there is also an electric car version which has gone to Europe. It’s going to be similar to a Volkswagen ID 4, similar to a Tesla Model Y.
It’s really going after the Tesla Model Y, which obviously has by far the biggest market share of any EV in Europe. BYD Increase EV Sales In Europe
Range will be around 500 kilometers on the WLTP cycle, and it can charge, they say, quick charge, 30 to 80% in 26 minutes.
Sales Performance
Now, it’s not really quick, but yeah, that’s what fast charging for the SEALU is it’s 30 to 80% in 26 minutes in ideal conditions.
Now, despite just adding a U to the name, the electric SUV has really… It’s very different to the BYD SEAL. It’s called the seal U, but they’re totally different cars.
Apparently, BYD say it’s designed specifically for Europe or also it’s on a new platform. It’s not using the same platform as the seal.
It’s not using the same platform as the Dolphine or the Addo 3, it’s a brand new platform, they say. BYD Increase EV Sales In Europe
Now, the Addo 3 was BYD’s best seller in Europe last year 12,363 of those were sold in Europe.
The Dolphin was second with 1,000 sold, followed by the Tang. That’s mostly sold in Norway, the Han 850, the SEAL 284 and the Seal U, so far, 11 have been delivered.
But of course, it’s a brand new vehicle. I think BYD has a good shot at this, but it’s going to take them a few years. BYD Increase EV Sales In Europe
It’s just not a known brand in Europe. Mg, they’re the only successful brands so far in Europe. And the reason is because people have heard of Mg.