BYD will launch three new plug-in hybrids (PHEVs) alongside three electric cars in Europe next year as it pushes for a more comprehensive product portfolio to boost its market share in the face of ailing EV demand and swingeing import tariffs.
The Chinese company is the world’s second best-selling electric car manufacturer, only narrowly being outstripped by Tesla in the second quarter of this year, and is quickly growing its market share in Europe following its launch in the market in 2022.
Its European line-up is predominantly pure-electric, but it has recently launched a plug-in hybrid version of the Seal U crossover and BYD president Stella Li has told Autocar that PHEVs have a “very important role” to play in sustaining the company’s upward trajectory.
“BYD is different. Tesla only has EVs but we have PHEVs,” she said, referring to them as a “game-changer” offering.
Li says PHEVs like the Seal U DM-i are gaining renewed importance as a bridge to full electrification for wary would-be electric car buyers. She said: “A lot of people want to try electric cars, but currently they have range anxiety and hesitate, but this car gives them the solution.”
According to Li, this is particularly prevalent in China, where the popularity of PHEVs and range-extender vehicles (REVs) currently outstrips pure EV. She said: “China is the leading country for the new-energy [electrified] car, and the yearly penetration of EVs is 40%, but more than 50% is PHEV - and our data shows that mainstream people use PHEV as the first experience for EVs.
“But after several years, they replace that with a new car, and 60-70% were very open to buying an EV.”
However, this phenomenon is not unique to China, she emphasised, highlighting that 60-70% of BYD’s sales in Spain are for the Seal U DM-i PHEV, which is the company’s “global sales champion” – though 85% of units are sold in its home country.
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