China’s leading EV maker, BYD, is expanding its presence in Europe by launching its best-selling Atto 3 and Seal in Greece. BYD said more models are launching soon.
BYD expands in Europe, launches two new EVs in Greece
BYD is “just getting started” in Europe, according to the region’s CEO, Michael Shu. After dominating its home market, BYD is taking its best-selling EVs overseas to challenge legacy automakers.
Although BYD began selling EVs in Europe in 2021 (in Norway), the company only sold 15,644 electric cars in the region last year. According to global data collection firm DataForce, that would give BYD a 1.1% share of the European EV market.
In an interview with Automotive News Europe last week, Shu said BYD is just learning “how Europeans respond” to the new tech, products, and services it offers.
Shu highlighted how Europe is a much different market than China or the US, with multiple legislations and languages to work with.
After admitting that ramping sales in the region will take time, Shu said BYD aims to more than triple its market share. Even before it begins producing vehicles at its Hungary plant.
BYD aims for a 5% share by then, up from just 1.1% currently. The company’s European boss confirmed the plant will begin production in 2026. To speed up output, it will also build battery packs in Hungary.
Once up and running, the plant will be able to build 150,000 vehicles a year, which can be doubled if needed.
“It will be Europe for Europe,” Shu said, adding, “We will be closer to customers, offering faster deliveries, and people will trust us more.”
According to its Weibo page, BYD launched two new EVs in Greece as it expands the brand overseas. BYD launched the Atto 3 and Seal EV, marking its official entry into the Greek passenger auto market.
Last year, BYD’s Atto 3 was its best-selling EV in Europe, with 12,363 models sold. BYD’s Seal was fifth, with 284 vehicles sold, behind the Dolphin (1,079), Tang (1,055), and Han (849).
BYD said it will introduce additional vehicles, including the Dolphin, Song Plus EV Champion Edition, and Song Plus DM-i in the future.
Electrek’s Take
Despite BYD’s minor presence in the European EV market, the automaker plans to expand aggressively.
BYD launched a “liberation battle” against gas-powered vehicles earlier this year to drive EV adoption by slashing prices and introducing drastically lower-priced models.
The Atto 3 starts at just $16,644 (119,800 yuan) in China. In Europe, it starts at around $40,000 (37,990 euros). Once its Hungary plant begins production, BYD will be able to cut prices closer to what’s offered in China.
The EV maker has an advantage by building nearly all components in-house, enabling low prices.
According to a new report, BYD is working on its next-gen EV platform, which will further lower costs and promote even cheaper electric models.
In the meantime, BYD’s first auto transport ship docked in Germany last month, carrying around 3,000 vehicles set to hit the European market.
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