Etiqueta: Europe

European Expansion Marks Strategic Luxury Market Move SINGAPORE / ACCESS Newswire / April 14, 2025 / Sycamine Capital Management notes BYD's recen...

When Chinese automaker BYD Co. announced plans to build a massive factory in the hardscrabble city of Camacari, in Brazil’s northeastern Bahia state, locals saw a new beginning. After years of economic stagnation following Ford Motor Co.'s exit from the region in 2021, there was hope that the global leader in electric vehicles would bring back well-paying jobs and a brighter future. Brazil, the world’s sixth-largest auto market, is seeing a surge in EV sales—and BYD is leading the charge.

As the automobile industry is shifting toward electric vehicles, the two prominent EV giants BYD and Tesla are contesting head-to-head. BYD, a Chinese-based

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BYD sold 377,420 EVs in March, nearing one million Q1 sales. They exported 206,084 EVs, up 111% from Q1 2024. Total EV sales exceeded 11.6 million

BYD is said to be one of the biggest enemies for leading car manufacturer, Tesla. BYD has mastered the creation of electric buses too.

Last year, BYD sold over 4.2 million cars worldwide, with over 90% of those sales occurring in China. And it doesn’t look like the company is resting on its laurels, for it has just launched its high-end Denza brand in Europe.

BYD is beginning to execute like the Japanese car companies, picking Western brands, using Western design elements, increasing quality, and retaining massive cost and price advantages.

BYD’s latest models featuring the groundbreaking charging technology cost less than the cheapest Tesla

Geely and Renault said in February they had reached an agreement for Geely to use the French automaker's production facilities in Brazil and take a minority stake in Renault's business in the Latin American country. BYD announced plans for a Mexican plant in 2023 and said last year it would announce where the factory would be located by the end of 2024.