BYD opens shop in the Caribbean with 10 new markets planned by the end of 2024
China’s leading EV maker, BYD, is quickly gaining ground in overseas markets. BYD opened its first store in the Caribbean as its global expansion heats up. The EV leader plans to enter ten new markets by the end of the year.
After setting a new weekly sales record in early May, BYD nearly topped its all-time sales record last month.
With 331,817 new energy vehicles (EVs and PHEVs) sold in May (+38% YOY), BYD posted its second-highest sales month ever. Of them, nearly 146,400 were fully electric. BYD has sold 580,974 all-electric vehicles so far this year, up 19% compared to the 488,600 sold a year ago.
BYD’s growing EV sales were fueled by price cuts and new lower-priced models launched earlier this year.
Its cheapest electric car, the BYD Seagull EV Honor Edition, starts at just $9,700 (69,800 yuan) in China.
The Seagull EV is already rolling out in overseas markets. BYD launched the “Dolphin Mini” (as it’s called overseas) in Brazil, starting at around $20,000 (99,800 BRL). It’s available in two models with up to 236 miles (390 km) of NEDC range. In Mexico, it starts at $19,780 (358,800 pesos).
BYD’s Seagull (Dolphin Mini) is expected to launch in Europe next year as one of the most affordable EVs on the market.
Despite potential tariffs, BYD still expects the low-cost EV to start at less than 20,000 euros ($21,500), still thousands lower than its rivals. With two plants planned in the region, BYD doesn’t expect any significant impacts from the potential tariffs on EVs made in China.
BYD takes on the Caribbean as first shop opens up
Although BYD has been selling EVs in the Caribbean for several years now, the automaker is now opening its first store in the region.
BYD announced the grand opening of its first dealership in the Caribbean last week. The new shop is located in Port of Spain, the capital of the Republic of Trinidad and Tobago, but BYD plans to expand sales to new markets.
According to CarNewsChina, BYD plans to expand to 10 more countries by the end of 2024. BYD plans to open shops in Jamaica, Barbados, and the Cayman Islands.
BYD was already the top-selling EV maker in Brazil last year, but new models and dealerships are expected to fuel its momentum.
BYD launched its first pickup last month in Mexico, the Shark PHEV. Starting at 899,980 pesos ($53,400), BYD Shark will rival Toyota’s Hilux and Ford Ranger models in the region.
Powered by a 29.58 kWh BYD Blade battery, the Shark PHEV has 100 km (62 mi) all-electric NEDC range. Its combined range is 840 km (522 mi).
BYD is expanding into other segments, including mid-size SUVs. BYD’s new Sea Lion 07 is poised to compete with Tesla’s best-selling Model Y, staring at just 189,800 yuan ($26,250) in China.
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China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.
The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.
The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.
China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.
To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.
To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.
The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.
As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.
Read more: California now has nearly 50% more EV chargers than gas nozzles
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Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!
An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.
Check out the relevant links, below, to learn more.
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