Chinese carmaker BYD launches virtual showrooms in Latin America to reinforce go-global push and hone premium image

Interactive virtual dealership has launched in Ecuador and Chile and will be available across Latin American in a few weeks, company says
Along with recently launched pricey models, the move aims to help the company move up the value chain as it looks to expand international sales

Electric & new energy vehicles

Daniel Renin Shanghai

Published: 8:30pm, 12 Jul 2023

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BYD, the world’s largest electric vehicle (EV) maker, has launched virtual showrooms in two South American countries as the Chinese company backed by Warren Buffett’s Berkshire Hathaway accelerates its go-global drive.

The Shenzhen-based carmaker said in a statement on Wednesday that the so-called BYD World – an interactive virtual dealership powered by technology from US company MeetKai – made its debut in Ecuador on Tuesday and Chile the next day. In a few weeks, it will be available in all Latin American markets, the company added.

“We are always looking for unique and innovative ways to reach our end consumer, and we believe the metaverse is the next frontier for selling cars and engaging with the consumer,” said Stella Li, BYD’s executive vice-president and head of operations for the Americas.

BYD, known for its low-priced EVs, is striving to move up the value chain after the company, controlled by Chinese billionaire Wang Chuanfu, launched two pricey models under its premium and luxury brands to woo global customers.

BYD World has launched in Ecuador and Chile and will expand across Latin America in a few weeks, BYD says. Photo: Handout

Li said the virtual showrooms in Latin America are the latest example of BYD’s push for technological innovation.

The metaverse refers to an immersive digital world, which is expected to have applications in remote work, education, entertainment and e-commerce.

BYD World will provide customers with a “future-forward immersive car-buying experience” as they interact with the BYD brand and its products, the statement said.

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BYD, which sells most of its cars on the Chinese mainland, has yet to launch a similar virtual showroom in its home market.

“The company appears to be very aggressive in tapping the overseas markets,” said Chen Jinzhu, chief executive of Shanghai Mingliang Auto Service, a consultancy. “It is obviously honing its image as a premium EV maker worldwide.”

BYD lags behind Tesla and some Chinese smart EV makers like Nio and Xpeng in developing autonomous driving technology and digital cockpits.

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Early this month, BYD launched a mid-sized sport utility vehicle (SUV) under its premium Denza brand, aiming to take on models assembled by the likes of BMW and Audi.

The N7, featuring a self-parking system and Lidar (light detection and ranging) sensors, could go as far as 702km on a single charge.

In late June, BYD said it would begin delivering its Yangwang U8, a luxury car priced at 1.1 million yuan (US$152,940), in September. The SUV’s appearance evokes comparisons to vehicles from Range Rover.

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Under the Made in China 2025 industrial strategy, Beijing wants the country’s top two EV makers to generate 10 per cent of their sales from overseas markets by 2025. Though authorities have not named the two companies, analysts believe BYD is one of the two due to its large production and sales volume.

BYD is now exporting Chinese-made cars to countries such as India and Australia.

Last week, it announced a plan to invest US$620 million in an industrial complex in Brazil’s northeastern Bahia state.

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It is also building a plant in Thailand, which will have an annual capacity of 150,000 cars when completed next year.

In May, BYD signed a preliminary agreement with the Indonesian government to produce electric cars in the country.

The company is also constructing an assembly plant in Uzbekistan.