The race for automobile electrification is intensifying in Europe, and a major challenger is looming: the Chinese manufacturer BYD. Faced with the ogre Tesla, the battle for market domination promises to be fierce. What are BYD’s strengths and its chances of dethroning the sector leader by 2030?
BYD estimates it can overtake Tesla in Europe by 2030
The Chinese electric car manufacturer, BYD, has big ambitions for the European market. According to its European director, Michael Shu, the company aims to overtake Tesla in Europe by 2030.
Dominance in the global electric vehicle market
BYD has already proven its strength by becoming the world’s largest seller of electric vehicles in the fourth quarter of 2023, surpassing Tesla. In China, almost 8 out of 10 cars sold are BYD cars. This demonstrates the overwhelming dominance of the Chinese brand over its domestic competitors. Although Tesla remains the world’s biggest seller for the whole year, BYD regained the title of sales champion in the first quarter of this year.
A massive investment in Europe
To achieve this ambitious objective, BYD plans to rely on its European factory based in Hungary, which should begin production in 2025. The manufacturer also intends to make a significant investment in Europe, which could represent several billion euros, in factories, distribution networks and marketing.
A strategy based on affordable models
BYD intends to conquer the European market by offering entry-level models at competitive prices. The small Seagull electric car, priced around 20,000 euros, could quickly compete with models such as the Citroën C3, as well as future small electric cars from Renault and Volkswagen. This strategy would allow BYD to position itself in the entry-level segment, which is growing strongly in Europe.
BYD is banking on the transition to electric in Europe
BYD’s factory in Hungary will produce electric cars specifically for the European market. BYD’s European director stresses that exporting cars from China to Europe is not viable in the long term. In addition to fully electric cars, the factory will also produce plug-in hybrid models to meet demand from European countries that have lagged behind in installing charging stations.
Expansion in France
BYD also plans to strengthen its presence in France by increasing the number of dealerships. The manufacturer plans to open new dealerships in towns such as La Teste de Buch, Poitiers, Tours, Niort, Clermont-Ferrand, as well as in the regions of Champagne and Hauts-de-France. This expansion is essential to make the brand known to French motorists and to develop a solid sales network.
With a massive investment in Europe, affordable models and a factory dedicated to production for the European market, BYD is positioning itself as a serious competitor for Tesla in Europe by 2030. As the demand for electric cars continues to grow , BYD intends to seize this opportunity to emerge as the European market leader.
Source: www.latribune.fr