Automundo China

China's BYD revamps its Europe operations after sluggish EV sales, adding hybrids and hiring local talent, sources reveal.

China had earlier imposed new export controls on seven rare earth elements and magnets used in everything from defense to energy to automotive technologies.

MILAN/SHANGHAI (Reuters) -China's leading EV maker BYD is overhauling its European operations after strategic missteps including failures to sign up enough dealers and hire executives with local-market knowledge and to offer hybrids in markets resistant to fully electric vehicles, six current and former BYD executives said. The Chinese EV leader announced in December that plug-in hybrids would be crucial to its European strategy. "He was very quick to get the message and give the input to BYD's engineers that every new model would have to come both in EV and hybrid" versions for Europe, Altavilla told Reuters.

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