BYD ramps up showroom openings, targets production in Europe to offset slowdown in China
The Berkshire Hathaway-invested EV maker plans to open 2,000 dealerships by 2026 and produce all models for sale in Europe locally by 2028
The Shenzhen-based company, which counts Warren Buffett’s Berkshire Hathaway as a minority shareholder, plans to operate 2,000 outlets across the continent in 2026, up from a projected 1,000 by the end of this year, according to Stella Li, an executive vice-president.
Speaking at the IAA Mobility car show in Munich on Monday, Li said BYD was in discussions with dozens of local car component manufacturers to set up a complete supply chain to support its growth in Europe.
“We are investing in not only plants but also the supply chain,” she said, according to a video clip obtained by the Post. “Our goal is to build a local ecosystem for European production.”
Overseas sales accounted for 22.5 per cent of the total in the three months to June, compared with less than 10 per cent a year earlier.