BYD continues to expand business in Europe

(Credit: BYD)

Chinese automaker BYD continues to expand its business in Europe by developing local partnerships. Recently, BYD signed a Memorandum of Understanding (MoU) with Ayvens, a leading global sustainable mobility player. 

“Our cooperation with Ayvens reflects our mutual vision to accelerate the development of New Energy Vehicle markets in Europe. Together we offer diverse, accessible, and appealing products with pioneering innovation to incentivize the advancement of eco-friendly lease fleets”, said BYD Chairman and President Wang Chuanfu.

According to Ayvens, its partnership with BYD will help the Chinese EV automaker distribute electric and light commercial vehicles (LCVs) for European corporate and retail customers. Below are the main points of Ayvens and BYD’s MoU

  • Ayvens’ international and local corporate clients in Europe will benefit from tailored solutions for the full range of BYD EVs, from advice over operational lease offers to end-to-end charging services. 
  • Ayvens’ SME and private customers will have access to white-label full-service leasing via the BYD dealer network. These operational leasing services will initially be available in France and Benelux, and expansion into other European markets will follow. 
  • Ayvens and BYD will actively explore other opportunities within retail, further developing white-label operational lease cooperation. 
  • Both companies will enhance collaboration via training programs and knowledge-sharing initiatives to foster continuous improvement in EVs and battery technology.

BYD has bold goals in Europe’s EV market. With its array of EV offerings, BYD aims to beat Tesla and other big legacy automakers in Europe, such as Volkswagen and Stellantis. 

BYD and other Chinese automakers have studied the European auto market for years, and the results speak for themselves. The European Commission recently started implementing increased tariffs on Chinese EV imports. The tariffs reach up to 38.1% and apply to Chinese automakers and car manufacturers like Tesla, which assemble EVs in China. 

Analysts predict that BYD and other automakers building cars in China might be affected by the EU’s new tariffs.

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BYD continues to expand business in Europe
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