BYD is ‘just getting started’ in Europe with plans to triple its EV market share
China’s BYD will challenge automakers in Europe with plans to triple its share in the EV market by 2025. After dominating its home market, BYD is expanding its brand overseas.
BYD plans to expand EV market share in Europe
BYD began selling vehicles in Europe in 2021, starting in Norway. Last year, the company sold 15,644 electric cars in the region. According to global data collection firm DataForce, that would give it a 1.1% share of Europe’s EV market.
However, the company is “just getting started” in the region, says Europe CEO Michael Shu, and expects to ramp up sales quickly.
In a new interview with Automotive News Europe, Shu said BYD is discovering “how Europeans respond” to the brand’s tech, products, and services. Europe is much different from other key auto markets like China or the US, with several legislations and languages.
Although Shu said increasing sales will take time, it expects to gain EV market share in Europe this year.
BYD aims for a 5% share of EV sales in Europe, even before production begins in Hungary. Shu confirmed the plant will start producing vehicles before 2026. The facility will build electric cars with battery packs built in Hungary.
EVs built in Europe for Europe
BYD’s Europe leader said once production begins in Europe, “we will be closer to customers, offering faster deliveries, and people will trust us more.” Shu explained, “It will be Europe for Europe.”
The Hungary plant will be able to build 150,000 vehicles a year with the ability to double output to 300,000 eventually.
Shu said BYD’s “product is premium, our price is mainstream, so we call this affordable premium.” BYD showcased luxury models like the Yangwang U8 off-roader at the Geneva Auto Show, which Shu said the company is “testing the market reaction.”
BYD’s next-gen EVs and PHEVs are set to hit the European market, starting with the Seal U this year.
The BYD Seal U will rival Volkswagen’s ID.4 with up to 310 mi (500 km) WLTP range and quick charge (30% to 80%) in 26 minutes. Despite just adding a “U” to the name, the electric SUV has little in common with the current Seal EV sedan as it’s designed specifically for Europe on a new platform.
BYD’s Atto 3 was its best-seller by far in Europe last year, with 12,363 models sold. The BYD Dolphin was second with 1,079, followed by the Tang (1,055), Han (849), Seal (284), and Seal U (11).
Electrek’s Take
Although BYD has not participated in Europe’s EV price war (yet), the automaker has started its own “liberation battle” against gas-powered vehicles.
BYD has slashed prices over the past few months, introducing drastically lower-priced versions of its best-selling models.
The Atto 3 (Yuan Plus) now starts at $16,644 (119,800 yuan) in China. BYD revealed its new Dolphin EV Honor Edition, starting at $13,900 (99,800 yuan). It’s cheapest EV, the Seagull (Dolphin Mini) is even more affordable with an Honor Edition, starting at $9,700 (69,800 yuan).
A new report claims BYD is working on its next-gen 4.0 platform that will lower costs further, promoting even cheaper electric cars.
BYD’s main goal of the “liberation battle,” is to take market share from gas-powered cars while driving EV adoption.
Contrary to many reports, BYD sees Tesla as an industry peer. Although they compete in some markets, “We are two very different animals,” Shu explained.
The company’s first cargo transport ship, BYD Explorer No.1 landed in Germany last month with around 3,000 vehicles ready to roll out across Europe as it looks to expand in the region.
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Hyundai is about to launch a new electric SUV in China. With its big debut coming up, Hyundai just dropped a sneak peek, and it looks like it could be the IONIQ 4. Check it out for yourself in the video below.
Is Hyundai teasing the IONIQ 4?
We caught our first glimpse of the new EV model last month after Beijing Hyundai released a few official “spy” photos.
Despite the camouflage, you can see a few design elements, like a light bar across the front, slim LED headlights, and a closed-off grille. At first, it almost looks like a smaller version of the IONIQ 9, Hyundai’s first three-row electric SUV, but with a much sportier, shaped profile.
Beijing Hyundai released a new teaser for the upcoming electric SUV this week. The video shows “a wave of high-end operations” as the vehicle dances across the snow.
The video highlights features like real-time torque control, high-speed cornering, and the SUV’s impressive body control while driving around cones.
Hyundai’s new electric SUV is being called “OE” internally, according to The Korean Car Blog, suggesting it could be an IONIQ model.
All other Hyundai IONIQ EV models were also codenamed with an “E” internally, which is raising speculation that this could be the IONIQ 4.
Like most global OEMs, Hyundai is fighting to compete in an intense Chinese EV market, which is dominated by domestic automakers like BYD.
Hyundai opened its first overseas R&D center last year in China to spearhead its comeback. It will work with local suppliers and tech companies to develop EVs designed for Chinese buyers. The new electric SUV is expected to launch in China later this year, followed by three new energy vehicles, including EVs and EREVs.
Beijing Hyundai will release more information on April 16, with the electric SUV set to “challenge the limit of driving performance.”
What do you think of Hyundai’s new electric SUV? Is this the IONIQ 4? Let us know your thoughts in the comments.
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Charge point provider char.gy has secured a £130 million contract to install 6,000 curbside EV chargers for Brighton and Hove City Council (BHCC) – the UK’s largest installation of its kind.
London-based char.gy has also been awarded a 15-year contract to operate and maintain the charging network.
Installing Level 2 chargers curbside, where most drivers in the UK park, will enable more people to take advantage of cheaper charging rates while juicing up their EVs overnight. (charg.gy’s pay as you go night tariff, between midnight and 7 am, is £0.39/kWh, compared to its £0.59/kWh day tariff.)
John Lewis, chief executive of char.gy, said the project is “a huge moment for the UK and its EV ambitions. This partnership alone will empower thousands of residents to confidently make the switch to electric vehicles, knowing they have easy access to chargers.”
Brighton and Hove City Council is among the first to tap into the government’s Local EV Infrastructure (LEVI) Fund, designed to help English local authorities roll out charging solutions for residents without off-street parking. Future of Roads Minister Lilian Greenwood said making EV charging as accessible as possible is “crucial to making the switch to electric a success.”
The UK now has over 75,000 public EV chargers, according to the Department for Transport—and it looks like the country’s on pace to hit its 2030 target. Back in December, the National Audit Office said the rollout is “on track” to meet the DfT’s estimate that at least 300,000 chargers will be needed by the end of the decade.
Read more: Meet the UK’s largest solar + storage EV charging ‘Superhub’
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