BYD to set up European branch in Germany
- Source: Global Times
- [16:50 December 08 2010]
- Comments
BYD will set up its European branch in Germany, Henry Li, BYD's export division manager revealed on a report by gasgoo.com on June 3.
The company plans to set up the branch near an airport, but the specific location is yet to be decided .
Li added that the company will choose to first promote the services in countries and cities with EV subsidy policies.
Besides the E6 electric vehicles to hit in Europe in 2011, BYD will also launch F3DM hybrid models.
The Shen-zhen based automaker has teamed up with Daimler AG for the development of electric vehicles in China and plans to sell them in Europe.
"BYD is making the right move to expand into European and the US markets, since more consumers in developed markets have a better acceptance for electric and hybrid vehicles, " said Han Weiqi, an analyst with CSC Securities Hong Kong Ltd. in Shanghai.
In addition, BYD intends to be the No.1 local-car maker in China by 2015, and a world auto giant by 2025. With sales of 415,000 units in 2009, BYD ranks sixth in China. Sales this year are expected to reach 800,000 units, while that for the European market is yet to be announced.
