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The president of China's BYD highlighted a strategic difference for the company that could put it ahead of Tesla in the European electric vehicle market.
Chinese manufacturer BYD is increasingly gaining ground in the European market, which is dominated by Tesla. With innovative designs, quality interiors and competitive prices, the brand is already a favorite among many consumers. But what really drives this expansion?
In 2024, Tesla faced challenges in the European market, recording a drop of 15,2% in sales from January to November compared to the same period in 2023. There were 211.405 units sold in the European Union, a significant reduction compared to the 249.265 units from the previous year.
On the other hand, BYD, although still consolidating its presence in Europe, presented growing. In 2023, the company sold 15.644 electric vehicles in the region and in 2024 it continued its expansion, with plans to increase its market share to 5%.
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BYD's growth strategy based on plug-in hybrids
BYD has bold plans to consolidate its presence in Europe. One of the highlights is the launch of the compact electric BYD Dolphin Mini, scheduled for 2025. However, the company's real bet is on plug-in hybrid vehicles (PHEVs).
With electric vehicle adoption rates low in some parts of Europe, BYD has identified PHEVs as a strategic opportunity. Alfredo Altavilla, the company’s special advisor for Europe, highlighted the relevance of this technology in a recent interview: “Plug-in hybrids will be the core of BYD's strategy in Europe."
Altavilla reinforced that the decision is in line with current market demand, especially in the south of the continent, where fully electric vehicles still face resistance.
Competition with Tesla and focus on the European consumer
During an event in Italy, Altavilla pointed to Tesla as the main competitor in the electric car segment. However, he acknowledged that the European market demands more versatile alternatives: “It would be foolish to go against the market. It is quite clear where the market is heading in Europe."
Stella Li, President of BYD Europe, complemented the strategic vision by stating that PHEVs are a “bridge to full electrification“According to her, the flexibility of this technology attracts buyers who are still hesitant to adopt fully electric cars.
She further added that BYD has something that Tesla does not: “BYD is different.
Tesla only has electric cars, but we also have plug-in hybrids. Our offering is a game changer.. "
Numbers that reinforce the strategy
According to Alessandro Grosso, manager of BYD Italy, plug-in hybrids represent 70% of the brand's sales on the mainland.
In contrast, electric cars account for only 30%. This data reflects the behavior of European consumers, who value the extended range of PHEVs and the simpler charging infrastructure.
BYD is betting that this balance will be key to increasing its market share.
Success stories and new releases
Currently, BYD already offers the plug-in hybrid model Seal U DMi in Spain. This vehicle combines efficiency with practicality, attracting consumers who want to gradually transition to electric mobility.
In addition, the company plans to expand its PHEV lineup, while continuing to offer a solid range of 100% electric cars. Today, the European portfolio includes seven models, including:
- Dolphin
- Seal
- Act 3
- He
By combining hybrids and electrics, BYD expands its options and differentiates itself from rivals focused exclusively on electric vehicles, such as Tesla.
Market impact and next steps
BYD’s strategy goes beyond sales. The company aims to create a lasting impact on the European automotive industry.
The introduction of new models plug-in hybrids It is just the beginning of a broader plan, which includes the popularization of electrification and the expansion of its presence in the main markets of the continent.
With a flexible approach and adapted to the needs of the public, BYD promises to continue challenging industry giants while redefining the rules of the game in Europe.
