BYD’s European Expansion Plan
Hybrid Technology to Play Key Role Amid Soft Demand for EVs
BYD, China’s top electric vehicle (EV) producer, entered Europe’s passenger car market in 2022. The company has an aggressive product roll-out plan for next year, which will help it expand its line-up. According to Alfredo Altavilla, BYD’s special adviser for Europe, hybrid technology will be "at the core of BYD’s strategy in Europe".
Aggressive Product Roll-Out Plan
BYD has been expanding its product line-up in Europe, with plans to introduce new models next year. The company currently offers a range of electric and plug-in hybrid electric vehicles, which it refers to as ‘dual mode’. Plug-in hybrids account for around 70 per cent of BYD’s sales in Italy.
Market Insights
Altavilla, a veteran auto industry executive with experience as Fiat Chrysler’s European chief, believes that hybrids will be key for European customers. He points out that the market demand for EVs has slowed down this year, and it would be "stupid to go against the market". According to him, hybrids will be essential for BYD’s European expansion.
Conclusion
In conclusion, BYD’s European expansion plan focuses on hybrid technology, with the company recognizing the slow demand for fully-electric vehicles in the region. BYD’s aggressive product roll-out plan and commitment to hybrid technology will be crucial for its success in the European market.
Frequently Asked Questions
Q: Why is BYD focusing on hybrid technology in Europe?
A: BYD’s special adviser for Europe, Alfredo Altavilla, believes that hybrids will be key for European customers, given the slow demand for fully-electric vehicles in the region.
Q: What is BYD’s product line-up in Europe?
A: BYD offers a range of electric and plug-in hybrid electric vehicles, referred to as ‘dual mode’. Plug-in hybrids account for around 70 per cent of BYD’s sales in Italy.
Q: What are BYD’s plans for next year?
A: BYD has an aggressive product roll-out plan for next year, which will help it expand its line-up in Europe.
Q: Who is BYD’s special adviser for Europe?
A: Alfredo Altavilla, a veteran auto industry executive with experience as Fiat Chrysler’s European chief, is BYD’s special adviser for Europe.
