BYD expands attain in Europe with best-selling Atto 3, Seal EV launching in Greece

China’s main EV maker, BYD, is increasing its presence in Europe by launching its best-selling Atto 3 and Seal in Greece. BYD stated extra fashions are launching quickly.

BYD expands in Europe, launches two new EVs in Greece

BYD is “simply getting began” in Europe, in response to the area’s CEO, Michael Shu. After dominating its dwelling market, BYD is taking its best-selling EVs abroad to problem legacy automakers.

Though BYD started promoting EVs in Europe in 2021 (in Norway), the corporate solely bought 15,644 electrical automobiles within the area final yr. In accordance with international information assortment agency DataForce, that may give BYD a 1.1% share of the European EV market.

In an interview with Automotive Information Europe final week, Shu stated BYD is simply studying “how Europeans reply” to the brand new tech, merchandise, and companies it affords.

Shu highlighted how Europe is a a lot totally different market than China or the US, with a number of legislations and languages to work with.

After admitting that ramping gross sales within the area will take time, Shu stated BYD goals to greater than triple its market share. Even earlier than it begins producing autos at its Hungary plant.

BYD goals for a 5% share by then, up from simply 1.1% at the moment. The corporate’s European boss confirmed the plant will start manufacturing in 2026. To hurry up output, it should additionally construct battery packs in Hungary.

As soon as up and working, the plant will have the ability to construct 150,000 autos a yr, which might be doubled if wanted.

“It is going to be Europe for Europe,” Shu stated, including, “We might be nearer to prospects, providing sooner deliveries, and other people will belief us extra.”

In accordance with its Weibo web page, BYD launched two new EVs in Greece because it expands the model abroad. BYD launched the Atto 3 and Seal EV, marking its official entry into the Greek passenger auto market.

Final yr, BYD’s Atto 3 was its best-selling EV in Europe, with 12,363 fashions bought. BYD’s Seal was fifth, with 284 autos bought, behind the Dolphin (1,079), Tang (1,055), and Han (849).

BYD stated it should introduce further autos, together with the Dolphin, Music Plus EV Champion Version, and Music Plus DM-i sooner or later.

Electrek’s Take

Regardless of BYD’s minor presence within the European EV market, the automaker plans to broaden aggressively.

BYD launched a “liberation battle” in opposition to gas-powered autos earlier this yr to drive EV adoption by slashing costs and introducing drastically lower-priced fashions.

The Atto 3 begins at simply $16,644 (119,800 yuan) in China. In Europe, it begins at round $40,000 (37,990 euros). As soon as its Hungary plant begins manufacturing, BYD will have the ability to lower costs nearer to what’s supplied in China.

The EV maker has a bonus by constructing almost all parts in-house, enabling low costs.

In accordance with a brand new report, BYD is engaged on its next-gen EV platform, which is able to additional decrease prices and promote even cheaper electrical fashions.

Within the meantime, BYD’s first auto transport ship docked in Germany final month, carrying round 3,000 autos set to hit the European market.