BYD to bring two more plug-in hybrid models to Germany this year
STUTTGART, Germany, April 29 (Reuters) - China's BYD (002594.SZ), opens new tab will bring two more plug-in hybrid models to Germany this year, its chief for Germany and numerous other central European countries Maria Grazia Davino told Reuters on Tuesday, as the EV giant widens its product line-up to adapt to European demand.
"Not everyone is ready for electric. We need something else to convince the customer," Davino said, speaking at the Reuters Automotive Conference in Stuttgart. "Every month, we find the best balance between what the customer wants and what makes distribution successful."
BYD, which last year surpassed Tesla to become the world's largest EV manufacturer, is overhauling its European operations after early stumbles in the region, including insufficient dealers, a lack of local knowledge and a line-up without plug-in hybrids, stymied sales.
The company is setting up national sales companies across Europe to support product distribution, provide customer services, and tailor its marketing to local consumers, Davino told Reuters.
"This localisation effort is a big investment... you have to build everything," the former Stellantis executive said, adding it would take years to build a network.
BYD currently offers just one plug-in hybrid in Europe, its Seal DM-i, which uses a small gasoline engine to recharge the battery and extend driving range.
"In the near future, we will have two pillars: one fully electric, and the other DM-i," Davino said.
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