This Wednesday morning, at the Hangar Y in Meudon, popular with car manufacturers who regularly present their new models to the press, BYD invites some journalists to test drive its latest vehicle.
The “BYD Seal U” is the first D-segment electric SUV designed by BYD for the European market, the brand explains. Its target: families, with a base price of 41,890 euros. This is the sixth vehicle that the Chinese manufacturer offers in the European market. In France, it will be marketed at the end of the month.
BYD is expanding its range, but its beginnings are still in its infancy. Last year only 523 of its cars were sold in France. If the conquest of the old continent may take a little longer than expected and generate internal tensions according to the Wall Street Journal, BYD has no intention of revising its plans. In France, he slowly weaves his network. There are currently 23 points of sale there and the goal is to reach a hundred by the end of 2025.
“We have margin upon margin”
While waiting for its factory in Hungary to be operational, probably in 2026, BYD has had its own boat built, simply called “BYD Explorer”. The freighter docked on European shores for the first time last month and will deliver up to 7,000 vehicles each month. The manufacturer also says it is looking to build other factories in Europe and says it is currently in talks with several governments.
Political attempts to stop its rise do not shake the brand. The end of the ecological bonus in France?
“We compensate for it, with reductions of up to 8,500 euros per car,” they tell us.
The likely increase in customs duties in Europe? “We will also compensate her,” say people from the company. “BYD controls 95% of its value chain, manufactures its own batteries and only has a few suppliers when traditional manufacturers have around a hundred per car,” they tell us, before continuing: “we have margin in the margins! ”
Objective: make yourself known
Only one thing seems to worry BYD: its notoriety.
“We are not known in Europe, we have to accept it,” admits a company executive.
To change the situation, the brand has done everything possible: television campaigns and, above all, a collaboration with the next European football championship, which will take place in Germany. Some tens of millions of euros invested to appear on all European screens for a month this summer. This is just the beginning of the story, BYD warns: “We are not here to take the markets and leave.”
Source: BFM TV
