Shulou(Shulou.com)11/24 Report--

Chinese carmaker BYD will launch its first electric cars in Europe in the coming months and hopes to open two factories on the continent, CTOnews.com reported on December 10. BYD is looking at the east and west of continental Europe, according to Bloomberg. Although it may prefer to set up factories in more developed countries where demand for electric vehicles is high and growing (such as Tesla's practice of building a super factory in Berlin).

Opening factories in Europe will enable BYD not only to meet growing demand, but also to avoid high EU tariffs on imports. This will make the price of its vehicles more competitive and help the company gain a larger market share in the region.

BYD already has factories in several countries, including one in Canada and three in Brazil. BYD has become China's largest electric car maker by sales-BYD surpassed Tesla in electric car sales for the first time in April, in fact, BYD's total electric car sales are second only to Tesla in the world. The move to open a plant in Europe will be part of a broader strategy for BYD to become a global leader in the electric vehicle industry.

Through plans to open two factories in Europe, BYD will aim to meet the growing demand for electric cars across the continent. The company announced this summer that it hopes to start selling its Chinese-made electric cars in Europe first, starting with the largest electric car markets (Germany, Norway, the Netherlands, Sweden and France) before expanding further.

CTOnews.com learned that BYD hopes to enter the European market with a three-part lineup, including the seven-seater electric SUV Tang, the stylish Han (both priced from 72000 euros (about 528000 yuan)) and the compact electric car ATTO 3muri, which is slightly smaller than the Volkswagen ID.4 and starts at less than 40,000 euros (about 294000 yuan). BYD dolphins and seals could also be brought to Europe.

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