Finance
China's BYD to focus on plug-in hybrid cars in European expansion
Published by Global Banking & Finance Review®
Posted on December 9, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 9, 2024
2 min readLast updated: January 27, 2026
BYD focuses on hybrid cars for European expansion due to low demand for fully-electric vehicles. Plug-in hybrids are key to their strategy, making up 70% of sales.
MILAN (Reuters) -Hybrid technology will be key for the European expansion of Chinese EV giant BYD amid soft demand for fully-electric vehicles, the special adviser in the region for the manufacturer said on Monday.
BYD, China's top electric vehicle producer, entered Europe's passenger car market in 2022. It has an aggressive product roll-out plan for next year, which will help it expand its line-up.
Alfredo Altavilla, a veteran auto industry executive who has served as Fiat Chrysler's European chief, was appointed as BYD's special adviser for Europe earlier this year.
Hybrids will be "at the core of BYD strategy in Europe," he said on Monday during a product event in Italy.
Unlike U.S. rival Tesla, BYD makes both pure and plug-in hybrid electric cars, which the automaker refers to as 'dual mode'.
"It would be stupid to go against the market, it's pretty clear where the market is going in Europe, especially in Southern Europe," Altavilla said, referring to a slowdown in EV demand this year.
"We'll of course have several EV models in our European offerings, but hybrids will be key for European customers".
Italy Country manager Alessandro Grosso, who moved to BYD in October from Stellantis, said plug-in hybrids currently account for around 70% of BYD sales in Europe.
(Reporting by Giulio PiovaccariEditing by Mark Potter)
The article discusses BYD's focus on hybrid cars for its European market expansion amid low demand for fully-electric vehicles.
BYD sees hybrid technology as key to meeting European market demands, especially in Southern Europe, where EV demand has slowed.
Plug-in hybrids currently account for around 70% of BYD's sales in Europe.
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