Automotive giant BYD is aiming to sell half of its cars outside of China by the end of the decade, as it makes strong headway across the UK.
Reuters reports that the Chinese manufacturer is looking to become a serious player in the international vehicle market, according to four people familiar with the brand.
BYD is looking to grow the name of the manufacturer in Europe and Latin America, as Chinese brands continue to deal with issues accessing the US market.
In total, BYD sold 4.27 million vehicles last year, although nine in 10 of them were sold in China.
Do you have a story you’d like to share? Get in touch by emailing motoring@gbnews.uk
A source told Reuters: «They [BYD] have the right products to repeat their Chinese success in overseas markets.»
BYD sold around 430,000 cars in 2020, but its global presence now allows it to sell millions of models and challenge the established dominance of the likes of Ford and General Motors.
So far this year, BYD has already sold 11,782 cars in the UK, commanding an impressive 1.68 per cent of the total market share.
It also represents a staggering 631 per cent increase compared to the same time last year, when it sold just 1,611 vehicles.
While BYD is a newcomer to the UK market, the Chinese giant is already outselling several established brands which have been on UK roads for decades, including Citroen, Fiat, Honda, Seat and Suzuki.
Crucially, the brand is less than 1,500 sales behind Tesla’s current record for the first four months of the year, since many see BYD and Tesla as direct rivals, especially in the electric vehicle space.
BYD currently has four electric vehicles on the UK market, including the Atto 2, Sealion 7, Atto 3 and Dolphin, as well as the hybrid Seal U DM-i.
With the Government confirming changes to the Zero Emission Vehicle (ZEV) mandate to ensure that no new petrol or diesel cars will be sold after 2030, BYD could take advantage of the increased interest in electric and hybrid vehicles.
The BYD Dolphin is the brand’s cheapest electric car in the UK with a list price of £26,195, making it less expensive than the vast majority of the EV market.
While electric cars are becoming more popular, drivers will likely have to spend more than £30,000 to get an EV from other established brands.
Bono Ge, UK Country Manager of BYD, said the manufacturer would continue to expand into the UK and European market with its own vehicles and those part of its Denza supercar brand.
The Shenzhen-founded brand is keeping the hybrid model in its range of products as the vehicle type acts as a «go-between» for drivers who are not yet ready for an electric car, but want to avoid a petrol or diesel vehicle.
LATEST DEVELOPMENTS:
・Classic car drivers left ‘high and dry’ after UK-US trade deal slashed auto tariffs to 10%
Speaking at Everything Electric London, Ge noted that BYD already has a 75 per cent share of all electric buses in London, with more than 1,200 vehicles.
Ge said the rollout of the electric buses, in addition to Mayor Sadiq Khan’s Ultra Low Emission Zone, has contributed to transport no longer being the biggest source of air pollution in the capital.
