EYESHENZHEN  /   Business  /   Industry News

BYD announces entry into EV markets in Germany and Sweden

Writer: Xia Yuanjie  |  Editor: Zhang Chanwen  |  From: Shenzhen Daily  |  Updated: 2022-08-03

Shenzhen-headquartered automaker BYD on Monday revealed plans to sell passenger electric vehicles (EVs) in Germany and Sweden, just 10 days after announcing its entry into the Japanese market.

The company announced a new partnership with Hedin Mobility, one of the largest European car dealer groups, with over 230 locations across eight countries.

In Sweden, Hedin Mobility will open offline BYD stores in several cities and in Germany it will help BYD select local dealers to cover multiple regions, the two companies have announced.

Its flagship store is scheduled to be opened in Stockholm, Sweden, in October and more offline stores will be launched in many cities later. Customers will have the opportunity to experience BYD products and technologies at the stores.

BYD expects to begin delivering EVs in EU countries in the fourth quarter of the year, the enterprise said.

On July 21, BYD announced its official entry into the Japanese market, with the start of sales of its passenger EVs in Japan in January 2023.

BYD’s agreement with Hedin Mobility is the company’s latest efforts to further enhance its presence in international markets. Its new energy vehicles (NEVs) are currently running in over 400 cities in over 70 countries and regions across six continents.

Earlier this month, BYD posted that its total sales exceeded 640,000 units in the first half of the year and has dethroned Elon Musk’s Tesla as the world’s biggest electric vehicle producer by sales. It also overtook Volkswagen AG’s ranking as the world’s third most valuable automaker recently.

BYD e5 electric vehicles are seen in Santiago, Chile, in this photo taken Jan. 19, 2021. The company delivered its first 50 BYD e5 electric vehicles to replace the classic black cabs in Santiago in August last year. BYD’s new energy vehicles are currently running in over 400 cities in over 70 countries and regions across six continents. Xinhua

BYD is the world’s only enterprise that masters the core technologies of the whole industry chain of electric vehicles, ranging from batteries, motors, electronic controls to semiconductors, while providing comprehensive new energy solutions.

Its self-controllable key technologies were bolstered by Shenzhen’s completed NEV industry chain and steady progress of achieving carbon peaking goal.

Shenzhen is home to 24,000 companies in the new energy industry, the most in the country, according to company data service platform Tianyancha.

According to the latest local statistics, the added value of car manufacturers above the designated size (with annual sales over 20 million yuan or US$2.96 million) rose by 91.1% year on year in the first half of this year, with the output of NEVs and charging poles rising by 174% and 164%, respectively.