BYD is now the world’s biggest EV manufacturer and is expanding rapidly in Europe. REV caught up with BYD representatives at the IAA auto show in Munich to learn more about their strategy and check out their new models.

Shenzhen

BYD, the world's largest producer of electrified vehicles, is accelerating its expansion into the European market by increasing its model range and establishing local production. The company recently grew its European lineup from six to eleven models, including new plug-in hybrids and electric vehicles, to appeal to a broader range of consumers. 

BYD is also investing heavily in research and development and has begun constructing factories in Europe, with its first facility in Hungary set to begin production soon. The company aims to be present in 32 European countries and significantly expand its dealership network, particularly in Germany. BYD's strategy focuses on long-term growth and relevance in key market segments, rather than short-term sales targets.

How does Chinese EV maker BYD aim to conquer Europe?

BYD is the biggest manufacturer of electrified vehicles in the world. It's been a while since they started their journey to conquer the European and also the German market. Where are they at right now? Where are they heading? And how do they even do it? We'll find out right now. Welcome to REV. One key aspect to becoming successful in Europe is the diversity of the portfolio. While in 2023 only six models were available for European customers, the Chinese upped that number to 11 with the introduction of the CL6 DMI just a few days ago. The plug-in hybrid car offers up to 1,350 kilometers of range, making it a viable option at a reasonable price. Together with the small City EV Dolphin Surf and the big SUV C-Line 7, those three are the latest addition to the lineup. But European competitors are not sleeping either, no matter if it's German brands like VW and Mercedes or other Asian manufacturers like Toyota and Kia. How does BYD deal with that? Today we're at the IAA in Munich to talk to some BYD representatives to hear what they have to say. I don't know exactly because I'm not comparing our performance with the others. We're working very hard. We are using every opportunity to tell our story. We have great products, great technology and I think this stands out. That's the way I look at it. I don't see a comparison that is relevant. Instead, the company focuses heavily on research and development with more than 120,000 R&D employees and an expense of more than 25 billion euros in that field. The way we work is we look at the industry. We want to be relevant in all segments that are relevant for the customers. This is the way we approach the market. So if you ask me, what's your target? The target is to be relevant in the segments that are relevant to the people in each single market. And of course, we have to be prepared to face the diversity of Europe because what I just said is different in different countries. By the end of 2025, BYD will have entered 32 countries with a total store amount exceeding 1 billion euros. By the end of 2025, BYD will have entered 32 countries with a total store amount exceeding 1 billion euros, aiming to double that by the end of next year. Founded as a battery manufacturer in 1995, BYD ventured into cars back in 2003. But it wasn't until 2020, with the introduction of the Blade battery, that their sales started to surge. And just three years later, they overtook the current leader Tesla to become the number one in global EV sales. The huge success of the brand on their home market was not enough for BYD, which is why in 2020 they started their journey to Europe in Norway. We're still new to the German market and also to Europe, and we are pursuing a clear, structured plan to promote the brand in Germany in terms of both volume and awareness. So first of all, we naturally need to further expand our dealer network. We can say with pride that we have already made considerable progress in this area. As of now, there are 100 BYD dealerships in Germany and the manufacturer plans to have 300 by the end of next year. But that's only a part of the plan. BYD has also started building factories in Europe to produce their cars locally. As of now, the first factory is located in central Europe, Hungary, and is set to commence output by the end of this year. You will see that we will gradually increase our sales figures over the next few months. But we are not going to measure ourselves against specific figures, because we are here to work on our success in the long term, and we are confident that we will make rapid progress. Being No. 6 on the list of world's top-selling car brands and even the leader when it comes to electrified vehicles is definitely a good omen. We go the BYD way. We are very focused on what we are doing. We know that we have a big, big way in front of us. In fact, I always say the challenges fuel us and humble us in a continuous, positive motion. In the end, time will have to tell whether the strategy is right.

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