BYD hired Alfredo Altavilla, a former Fiat Chrysler COO, to help with its expansion into Europe.
Altavilla will be BYD’s special advisor for the European market. He has extensive knowledge and experience in the region as he was Fiat Chrysler’s COO for Europe.
BYD has set ambitious goals for its global market expansion. BYD forecasts that its overseas market will account for 50% of its global sales in the future, and Europe plays a significant role in the Chinese automaker’s plans.
BYD’s main hurdle in Europe is the European Commission’s new tariffs on China-made electric vehicle (EV) imports. The tariffs are provisional at the moment but have been imposed since July 5, 2024. All 27 European Union member states are expected to approve the Commission’s provisional tariffs by the end of the year.
BYD was one of the few automakers to receive an individual tariff rate from the Commission. The Chinese automaker’s duty is 17%, which will be placed on top of the EU’s current 10% duty for vehicle imports.
To circumnavigate its tariff rates of 27%, BYD is considering local production in Europe. It currently has its eyes set in either Hungary or Turkey.
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