BYD expands in Europe with Atto 3, Seal EV launch in Greece

BYD, the leading EV maker in China, is expanding its presence in Europe by introducing its popular models Atto 3 and Seal in Greece. The company has plans to launch more models in the near future.

BYD’s CEO for Europe, Michael Shu, expresses that the company is just getting started in the European market. Despite its success in China, BYD is now making a move to challenge traditional automakers in Europe by introducing its electric vehicles.

While BYD made its initial entry into the European EV market in 2021, with sales starting in Norway, the company only managed to sell 15,644 electric vehicles in the region in the previous year. Data from global research firm DataForce indicates that BYD currently holds a 1.1% share of the European EV market.

In a recent interview with Automotive News Europe, Shu mentioned that BYD is still learning how European consumers respond to their innovative technology, products, and services. He also pointed out the challenges of dealing with different legislations and languages across various European countries.

Despite acknowledging that increasing sales in the region will take time, Shu emphasized BYD’s goal to more than triple its market share even before the launch of its production facility in Hungary.

BYD aims to increase its market share to 5% by the time its production plant is operational in 2026, a significant jump from the current 1.1%. The company also plans to manufacture battery packs in Hungary to accelerate production and potentially double the annual vehicle output to 150,000 units.

Michael Shu mentioned that the plant in Hungary will focus on serving the European market directly, offering faster deliveries and building trust with customers through proximity and reliability.

BYD made its official entry into the Greek passenger auto market by launching the Atto 3 and Seal EV models. Last year, Atto 3 was the top-selling EV in Europe for BYD, with Seal ranking fifth behind other popular models like Dolphin, Tang, and Han.

Besides the Atto 3 and Seal, BYD plans to introduce more electric vehicles like the Dolphin, Song Plus EV Champion Edition, and Song Plus DM-i in the European market in the future.

Despite its current modest presence in the European EV market, BYD is determined to aggressively expand its reach. The company initiated a “liberation battle” against gasoline-powered vehicles by offering lower prices and introducing more affordable EV models. For example, the Atto 3 starts at just $16,644 in China, while in Europe it is priced around $40,000. With the upcoming production facility in Hungary, BYD aims to bring its European pricing closer to its domestic pricing.

BYD’s advantage lies in its in-house production of almost all components, allowing for competitive pricing. The company is also developing a new EV platform to further reduce costs and introduce even more affordable electric vehicles in the market. Meanwhile, BYD’s initial shipment of vehicles to Germany signals its commitment to the European market.