Etiqueta: Germany

Forget the Mustang four-door coupe, we want this stylish shooting brake

The world's auto industry is getting a shake-up from Chinese automakers that are quickly expanding across the globe, offering relatively affordable electric vehicles designed to wow car buyers with sleek designs and the latest high-tech interiors.

BYD is said to have already planned an attack on Tesla and its over for Tesla due to welcoming competitor Denza and its latest supercar to Europe

STORY: Chinese EV giant BYD is executing a European reboot. Reuters sources - all current or former executives - say the firm is having a rethink after a series of strategic stumbles. That includes failing to sign up enough dealers or hire executives with local-market knowledge. BYD has also decided it needs to offer hybrids in countries still resistant to fully electric vehicles. The executives say it’s now moving fast to tackle all such failings. That includes poaching managers from European automakers, in particular Stellantis. BYD is targeting Europe after enjoying a stellar rise in China, where its sales have risen seven-fold since 2020. It’s now the world’s sixth-biggest automaker, and has overtaken Tesla as the top maker of EVs. But a protracted price war in its home market has made profits hard to come by, and spurred the search for overseas income. The company expanded to Europe in 2023, with bold ambitions. BYD aimed to be the region’s top EV seller by 2030. But the Reuters sources say it failed to do its homework before diving in. They say the core mistake was to treat the area as one market, when car buying customs and preferences are actually very different across European countries. Now some figures suggest its reboot is already paying off. Including the UK, sales in Europe more than tripled in the first quarter of this year. Even so, the firm still has a long way to go. In Germany - the region’s biggest market - BYD sold fewer than 2,900 cars last year.

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

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.

Competition with China in the automotive sector is a challenge for Europe, but also presents opportunities. Coordination is needed at the EU level to develop local value chains and to ensure that strong EV demand rebounds, providing continued support for the industry.

Saudi Aramco and the Chinese electric vehicle giant BYD announced Monday an agreement to work together on what they called new-energy vehicle technologies.

Tesla may have started the race, but BYD is setting the pace. Does this Chinese EV giant now hold an upper hand in this high-stakes race for electric dominance?

Leading supplier says Shenxing cells can achieve 520km range compared with BYD’s 470km