Latest news with #SEALION6
Business Insider
a day ago
- Automotive
- Business Insider
World's largest electric carmaker BYD accelerates expansion drive in Africa
Chinese electric vehicle giant BYD is accelerating its expansion in South Africa, plans to triple its dealership network by 2026 and solidify its position in Africa's largest automotive market. BYD is expanding rapidly in South Africa, aiming to triple its dealerships by 2026. The company launched operations in South Africa in 2023 with the ATTO 3 electric vehicle. New energy vehicle (NEV) sales in South Africa doubled to 15,611 units in 2024. The world's largest electric vehicle manufacturer, BYD is aggressively expanding its presence in South Africa's rapidly evolving new energy vehicle (NEV) market, where it faces intensifying competition from other Chinese brands such as GAC, Chery, and Great Wall Motors (GWM). The automaker, which launched in South Africa in 2023 with its BYD battery electric ATTO 3 vehicle, currently operates around 13 dealerships nationwide. According to Steve Chang, General Manager of BYD Auto South Africa, the auto company plans to significantly expand its presence: " By the end of the year, we will have about 20 dealerships around the country, and we aim to grow that to around 30-35 by next year." In an interview with Reuters, Chang said that the expansion will help BYD become a familiar and trusted name as South Africa transitions to electrified vehicles. New models, improved sales in SA As part of its dual-powertrain strategy, the automaker introduced three new models in April: the plug-in hybrid Shark pick-up, the hybrid SEALION 6, and the fully electric SEALION 7 SUV, bringing its total South African offerings to six models that cover both hybrid and battery electric vehicles. Industry figures reveal growing local interest in new energy vehicles (NEVs). According to the National Association of Automobile Manufacturers of South Africa (NAAMSA), NEV sales more than doubled in 2024, reaching 15,611 units, up from 7,782 in 2023. Although NEVs still account for a small fraction of total vehicle sales, the significant growth highlights a shifting consumer mindset that BYD is positioning itself to capitalize on. Regarding the current market landscape, Chang stated, " While the share of NEVs to total car sales is still low, BYD is hoping to capture the market early on, in preparation for a meaningful transition' He further emphasized, " We want to educate and cultivate the market of South Africa and make sure that the South African consumers can catch up with the rest of the world ' Despite the momentum, challenges persist. Limited charging infrastructure, unreliable electricity supply, and higher import duties on electric vehicles compared to traditional combustion-engine cars continue to slow down EV adoption across the continent. However, the Chinese auto giant remains optimistic. 'South Africa is one of the most important automotive markets in the southern hemisphere—and probably the biggest in Africa,' said Chang. 'So it's a market that we have to look at and see how we can develop the market," Chang added.
Time of India
3 days ago
- Automotive
- Time of India
China's BYD to nearly triple South Africa dealers' network by next year
Chinese electric-vehicle giant BYD plans to nearly triple its dealership network in South Africa by next year as it looks to grow its market share in the country, a senior executive told Reuters. BYD's move comes at a time of growing competition in Africa's largest automotive market, where sales of new energy vehicles are rising and other Chinese companies - such as GAC, Chery and GWM - are also making inroads. Launched in 2023, with its BYD battery electric ATTO 3 vehicle, the automaker has about 13 dealerships. "By the end of the year, we will have about 20 dealerships around the country. The aim is to expand that to about 30, 35 the next year," Steve Chang, General Manager of BYD Auto South Africa told Reuters in an interview on Wednesday. BYD currently offers six models in the South African market, with its plug-in hybrid Shark pick-up, hybrid SEALION 6, and pure electric SEALION 7 SUV models launched in April, completing its hybrid and electric dual-powertrain strategy. The dealership expansion will help BYD become a fairly known brand and capture more buyers across a country that is slowly transitioning to electrified vehicles. In 2024, sales of new energy vehicles - a term that describes battery-powered fully electric vehicles and plug-in hybrid cars - rose to 15,611 units from 7,782 units in 2023, according to data from automotive industry body NAAMSA. While the share of NEVs to total car sales is still low, BYD is hoping to capture the market early on, in preparation for a meaningful transition, Chang said. "We want to educate and cultivate the market of South Africa and make sure that the South African consumers can catch up with the rest of the world," Chang added. The uptake of electric vehicles and investment in Africa is quite slow relative to emerging market peers due to limited charging infrastructure, unstable power supply and high import duties compared to fossil-fuelled cars. But BYD sees potential. "South Africa is actually one of the most important automotive markets in the southern Hemisphere. It's probably the biggest market in all of Africa, so it's a market that we have to look at and see how we can develop the market," Chang said.
TimesLIVE
3 days ago
- Automotive
- TimesLIVE
BYD to nearly triple its South African dealer network by next year
Chinese electric vehicle (EV) giant BYD plans to nearly triple its dealership network in South Africa by next year as it looks to grow its market share in the country, a senior executive told Reuters. BYD's move comes while competition in Africa's largest automotive market is growing, where sales of new energy vehicles are rising and other Chinese companies — such as GAC, Chery and GWM — are also making inroads. Launched in 2023, with its BYD battery electric ATTO 3 vehicle, the carmaker has about 13 dealerships. 'By the end of the year we will have about 20 dealerships around the country. The aim is to expand that to about 30, 35 the next year,' Steve Chang, GM of BYD Auto South Africa told Reuters in an interview on Wednesday. BYD offers six models in the South African market, with its plug-in hybrid Shark pickup, hybrid SEALION 6 and pure electric SEALION 7 SUV models launched in April, completing its hybrid and electric dual-powertrain strategy. The dealership expansion will help BYD become a known brand and capture more buyers in a country slowly transitioning to EVs. In 2024, sales of new energy vehicles (NEVs) — a term that describes battery-powered fully electric vehicles and plug-in hybrid cars — rose to 15,611 units from 7,782 units in 2023, according to data from automotive industry body Naamsa. While the share of NEVs to total car sales is still low, BYD is hoping to capture the market early on, in preparation for a meaningful transition, Chang said. 'We want to educate and cultivate the market of South Africa and make sure South African consumers can catch up with the rest of the world.' The uptake of EVs and investment in Africa is slow relative to emerging market peers due to limited charging infrastructure, unstable power supply and high import duties compared with fossil-fuelled cars. But BYD sees potential. 'South Africa is one of the most important automotive markets in the southern hemisphere. It's probably the biggest market in Africa, so it's a market we have to look at and see how we can develop the market,' Chang said.
Business Recorder
3 days ago
- Automotive
- Business Recorder
China's BYD to nearly triple South Africa dealers' network by next year
JOHANNESBURG: Chinese electric-vehicle giant BYD plans to nearly triple its dealership network in South Africa by next year as it looks to grow its market share in the country, a senior executive told Reuters. BYD's move comes at a time of growing competition in Africa's largest automotive market, where sales of new energy vehicles are rising and other Chinese companies - such as GAC , Chery and GWM - are also making inroads. Launched in 2023, with its BYD battery electric ATTO 3 vehicle, the automaker has about 13 dealerships. 'By the end of the year, we will have about 20 dealerships around the country. The aim is to expand that to about 30, 35 the next year,' Steve Chang, General Manager of BYD Auto South Africa told Reuters in an interview on Wednesday. BYD currently offers six models in the South African market, with its plug-in hybrid Shark pick-up, hybrid SEALION 6, and pure electric SEALION 7 SUV models launched in April, completing its hybrid and electric dual-powertrain strategy. The dealership expansion will help BYD become a fairly known brand and capture more buyers across a country that is slowly transitioning to electrified vehicles. In 2024, sales of new energy vehicles - a term that describes battery-powered fully electric vehicles and plug-in hybrid cars - rose to 15,611 units from 7,782 units in 2023, according to data from automotive industry body NAAMSA. While the share of NEVs to total car sales is still low, BYD is hoping to capture the market early on, in preparation for a meaningful transition, Chang said. 'We want to educate and cultivate the market of South Africa and make sure that the South African consumers can catch up with the rest of the world,' Chang added. China's BYD says it is against import of 5-year-old used vehicles The uptake of electric vehicles and investment in Africa is quite slow relative to emerging market peers due to limited charging infrastructure, unstable power supply and high import duties compared to fossil-fuelled cars. But BYD sees potential. 'South Africa is actually one of the most important automotive markets in the southern Hemisphere. It's probably the biggest market in all of Africa, so it's a market that we have to look at and see how we can develop the market,' Chang said.
Yahoo
3 days ago
- Automotive
- Yahoo
China's BYD to nearly triple South Africa dealers' network by next year
By Nqobile Dludla JOHANNESBURG (Reuters) -Chinese electric-vehicle giant BYD plans to nearly triple its dealership network in South Africa by next year as it looks to grow its market share in the country, a senior executive told Reuters. BYD's move comes at a time of growing competition in Africa's largest automotive market, where sales of new energy vehicles are rising and other Chinese companies - such as GAC, Chery and GWM - are also making inroads. Launched in 2023, with its BYD battery electric ATTO 3 vehicle, the automaker has about 13 dealerships. "By the end of the year, we will have about 20 dealerships around the country. The aim is to expand that to about 30, 35 the next year," Steve Chang, General Manager of BYD Auto South Africa told Reuters in an interview on Wednesday. BYD currently offers six models in the South African market, with its plug-in hybrid Shark pick-up, hybrid SEALION 6, and pure electric SEALION 7 SUV models launched in April, completing its hybrid and electric dual-powertrain strategy. The dealership expansion will help BYD become a fairly known brand and capture more buyers across a country that is slowly transitioning to electrified vehicles. In 2024, sales of new energy vehicles - a term that describes battery-powered fully electric vehicles and plug-in hybrid cars - rose to 15,611 units from 7,782 units in 2023, according to data from automotive industry body NAAMSA. While the share of NEVs to total car sales is still low, BYD is hoping to capture the market early on, in preparation for a meaningful transition, Chang said. "We want to educate and cultivate the market of South Africa and make sure that the South African consumers can catch up with the rest of the world," Chang added. The uptake of electric vehicles and investment in Africa is quite slow relative to emerging market peers due to limited charging infrastructure, unstable power supply and high import duties compared to fossil-fuelled cars. But BYD sees potential. "South Africa is actually one of the most important automotive markets in the southern Hemisphere. It's probably the biggest market in all of Africa, so it's a market that we have to look at and see how we can develop the market," Chang said.
