China’s BYD is re-evaluating its EV strategy in Europe following the continent’s resistance to fully adopt the technology, reports global news outlet Reuters.
Failure to sign up enough dealers, and to offer hybrid options means China’s leading EV maker is rethinking its European operations.
For example, in Germany BYD sold 218 cars in August 2024 down from 240 the previous month. In total BYD sold 83,000 vehicles across Europe last year, according to industry analysts S&P Global. In contrast, the Volkswagen group sold around 3.7 million.
In December, BYD declared that hybrids would feature in its European strategy. The same month, its European special adviser Alfredo Altavilla said plug-in hybrids would be at the core of BYD strategy in Europe as it looked to address consumer preferences.
Former Fiat-Chrysler executive Altavilla joined Stellantis last June. Stellantis was formed in 2021 through the merger of Fiat Chrysler Automobiles (FCA) and the PSA Group.
Last year, BYD expanded its dealer network and offered large incentives to entice executives from European automakers, especially Stellantis, the executives told Reuters.
Last October, BYD hired former Stellantis’ UK chief Maria Grazia Davino. She joined fellow ex-Stellantis executives Alessandro Grosso and Alberto De Aza.
In May 2024, BYD unveiled a hybrid drive train it claimed could drive 1,250 miles without stopping to refuel or recharge.
The latest information comes from six current and former BYD executives interviewed by Reuters.
BYD declined to comment to Reuters.
