The carmaker is in talks with hundreds of local suppliers and will have more than 1,000 stores in 32 countries across Europe by the end of the year, executive vice-president Stella Li said yesterday at the Munich auto show.
It is now offering 13 models in the region, up from six two years ago.
BYD’s most recent European addition is the Seal 6 DM-i Touring, a plug-in hybrid station wagon with a combined gasoline and battery range of 1,350km.
BYD, Xpeng Inc and Zhejiang Leapmotor Technology Co are among Chinese carmakers using this week’s event in Germany to show off their line-ups as they try to extend market-share gains made in Europe in recent years.
Their push is intensifying as an EV price war rages at home.
The European Union has introduced tariffs on electric vehicles imported from China, but that has not stopped the rise of BYD and its peers.
They have added more hybrid and combustion models that don’t trigger the duties, are forming local sales partnerships and are pledging to set up production in the region.
That’s a threat to the likes of Volkswagen AG and Stellantis NV, which are cutting costs to defend margins in a stagnant European auto market.
Volkswagen is answering with efforts to offer more affordable vehicles, including an electric Polo that is expected to be priced below €25,000 when it goes on sale next year, and a battery-powered version of its popular T-Cross sport utility vehicle.
It also showed off new models from its cheaper Skoda brand.
“Our ambition is provide technology for the people and that’s what we are doing now with the entry-level electric cars,” chief executive officer Oliver Blume said yesterday in an interview with Bloomberg Television.
Europe’s biggest automaker also is navigating US president Donald Trump’s trade moves.
Mr Blume said the EU-US agreement for 15pc duties creates planning security but still remains a burden for the group.
The carmaker remains in talks with Washington to secure a tariff offset agreement in return for its investments in the country, Mr Blume said, adding that he’s hoping for a “quick solution” in the coming weeks.
Bloomberg