BYD focuses on European market, introduces new models and strengthens overseas sales network

According to news on September 5, BYD announced a series of major plans at the 2023 Munich International Auto Show to further expand its market share in Europe. Li Yunfei, general manager of BYD's Brand and Public Relations Department, said that BYD will actively participate in the European market and plans to determine the address of its first European factory by the end of 2023 to achieve localized production in Europe.

According to the editor’s understanding, in order to better meet the needs of European consumers, BYD will conduct in-depth visits to first-tier markets to gain a deep understanding of market dynamics and consumer expectations. Li Yunfei also revealed that BYD will adjust factory production capacity according to the needs of the European market to ensure that product supply can meet potential demand.

Currently, BYD’s main sales model in the European market is Yuan PLUS, but they plan to introduce two new models, Seal and Dolphin, and at the same time expand their overseas outlets from 100 at the beginning of the year to 200 at the end of the year. This will It will help increase BYD's overseas passenger car sales in Europe, which is expected to reach 250,000 units.

BYD’s ambitions are not limited to this. According to previously announced plans, their goal is to increase sales in the European market to approximately 800,000 vehicles in 2030 and increase market share to 10%, thereby becoming one of the top three electric vehicle brands in Europe. To achieve this goal, BYD plans to build its own factories in Europe. Michael, President of BYD Europe Shu said in March this year that they were looking for new factories in Europe or considering acquiring existing factories, and the first European factories are expected to be located in Germany, France, Spain, Poland and Hungary.

In short, BYD’s future plans are full of ambition and development potential. If all goes well, BYD is expected to achieve greater breakthroughs in the European market and further consolidate its leading position in the global electric vehicle market.

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