Latest news with #PhaseTwo
7NEWS
26-05-2025
- Automotive
- 7NEWS
BYD drops local importer EVDirect, will distribute vehicles in Australia itself
BYD Automotive is taking control of its Australian operations from July 2025, dropping EVDirect as its local distributor. EVDirect will remain involved with the Chinese brand, however, through a minority stake in its retail joint venture with Eagers Automotive Limited, called EVDealer Group. It has a 20 per cent stake in this joint venture, with Eagers holding 80 per cent. EVDirect CEO David Smitherman will serve as CEO of the joint venture. BYD Australia and Eagers have signed a term sheet for a new five-year dealer agreement, with an option for a further five-year term. This term sheet is subject to finalisation of formal documentation between the joint venture and BYD Australia. Not only does this move preserve the current network of retail and service locations, but it also allows Eagers to expand its retail footprint for the BYD brand, provided BYD Australia approves. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. 'This transition is consistent with BYD's continued global reach into key strategic markets and will strengthen the brand's capabilities in Australia by leveraging BYD's global resourcing and expertise,' Eagers Automotive said in a press release. In its own press release, EVDirect said the move comes a year ahead of schedule. 'Now is the time to further unlock BYD's immense potential for Australian drivers,' said Luke Todd, chairman and founder of EVDirect and incoming executive chairman of EVDealer Group. 'Phase One proved the BYD brand would thrive here; Phase Two will make new-energy vehicle ownership easier and more accessible than ever,' he added, with EVDirect noting it intends to offer customers more retail locations, shorter wait times, and enhanced after-sales support. 'As the inaugural importer, EVDirect is extremely proud of the role it has played in the launch of BYD into the Australian market, overseeing what has been one of the most successful new car brand launches in Australian history,' added Mr Todd. 'As a team we are extremely proud of what's been achieved and even more excited by the future as our team reposition into a new role that will help catapult the BYD brand further, right across Australia.' We've contacted BYD Australia for comment. The BYD brand has grown rapidly in Australia, after an uncertain start. BYD e6 vehicles had previously been distributed in limited numbers under Carbridge and Nexport, companies run by Luke Todd. The T3 electric van was also offered here in limited numbers in 2021. But it was the launch of the Atto 3 in 2022 that put BYD on the map with Australian new car buyers, with the small-to-medium electric SUV aimed at the heart of the local EV market. Initially offered only through its website, EVDirect subsequently announced in 2022 plans to sell BYD vehicles through Eagers dealers and have them additionally able to be serviced at Mycar locations. EVDirect and Eagers established a 51:49 joint venture retail partnership, which in 2023 shifted to a 20:80 split. The local distributor has long stated aggressive goals for the Australian market, saying back in 2022 and 2023 it wanted to be a top five brand. Even as recently as this year, Mr Todd said BYD could overtake Toyota as soon as 2027 in Australia. Last year, BYD sold 20,458 vehicles in Australia, including 14,260 electric vehicles (EVs) and 6198 plug-in hybrids (PHEVs), which was enough to make it our market's second best-selling EV brand and the second best-selling PHEV brand. Overall, it was the market's 17th best-selling brand in 2024. The move to in-house distribution will see BYD join other Chinese brands such as MG, GWM/Haval, Chery/Jaecoo and Geely. Chinese brands that use a third-party distributor include LDV (Ateco), Deepal and Foton (Inchcape), and Xpeng (TrueEV). There's also Leapmotor, which leverages Stellantis retail locations through the Leapmotor International joint venture with the European/American giant. BYD will not only be distributing vehicles under its namesake brand, but also under its premium Denza brand, which is due on our shores this year.
Zawya
31-01-2025
- Business
- Zawya
Major Developers unveils Phase II of RAK flagship project
UAE-based Major Developers has launched the Phase II of its flagship project, Manta Bay, located on the iconic Al Marjan Island in Ras Al Khaimah following the success of its first phase. Announcing the new launch, the developer said this has been in response to heightened demand, with strong investor interest and expressions of interest (EOIs) already translating into multiple initial bookings. Units are selling fast, reflecting the unparalleled appeal of this unique luxury development, it stated. Designed to cater to the preferences of a global investor base spanning over 25 nationalities, Phase Two offers innovative luxury living solutions. The buyers can also choose fully furnished units to enhance investment potential. Additionally, these units feature private jacuzzis and BBQ-equipped terraces, creating an exceptional lifestyle experience that distinguishes Manta Bay both in the UAE and worldwide, it stated. CEO Andrei Charapenak said: "The overwhelming interest in Manta Bay Phase II is a testament to the project's appeal and the confidence investors have in our vision. With exclusive new units and its prime location on Al Marjan Island - home to transformative developments like the Wynn Al Marjan Island resort - this phase enhances the luxury living experience." "We are thrilled to see strong momentum from both local and international buyers, with Phase Two already receiving bookings and EOIs from investors across 25 countries," noted Charapenak. "This is a clear reflection of Manta Bay's global appeal and its potential as a prime investment opportunity. To meet this growing demand, we have introduced a wider range of layouts designed to accommodate evolving investor and resident needs," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
30-01-2025
- Business
- Trade Arabia
Major Developers unveils Phase II of RAK flagship project
UAE-based Major Developers has launched the Phase II of its flagship project, Manta Bay, located on the iconic Al Marjan Island in Ras Al Khaimah following the success of its first phase. Announcing the new launch, the developer said this has been in response to heightened demand, with strong investor interest and expressions of interest (EOIs) already translating into multiple initial bookings. Units are selling fast, reflecting the unparalleled appeal of this unique luxury development, it stated. Designed to cater to the preferences of a global investor base spanning over 25 nationalities, Phase Two offers innovative luxury living solutions. The buyers can also choose fully furnished units to enhance investment potential. Additionally, these units feature private jacuzzis and BBQ-equipped terraces, creating an exceptional lifestyle experience that distinguishes Manta Bay both in the UAE and worldwide, it stated. CEO Andrei Charapenak said: "The overwhelming interest in Manta Bay Phase II is a testament to the project's appeal and the confidence investors have in our vision. With exclusive new units and its prime location on Al Marjan Island - home to transformative developments like the Wynn Al Marjan Island resort - this phase enhances the luxury living experience." "We are thrilled to see strong momentum from both local and international buyers, with Phase Two already receiving bookings and EOIs from investors across 25 countries," noted Charapenak.
