South Korean media: BYD accelerates its march into overseas markets, is Trump's tariff a "godsend"?

On April 28, South Korean media "Digital Economy" published an article stating that the largest electric vehicle manufacturer in China, BYD, is accelerating its expansion of territory and increasing the number of countries where it sells, including Europe and the Asia-Pacific region.

Recently, BYD opened its first store in Zurich, Switzerland, to start selling electric vehicles. After being unveiled at the Geneva Motor Show last year, it has now fully entered the market and plans to expand its sales outlets to 15 this year.

This year, BYD also entered Croatia and Serbia. BYD continues to expand its business in European and Asian-Pacific countries where it has not yet entered.

Recently, BYD has also actively entered the Sri Lankan market. BYD opened a flagship store in Colombo last year, but due to the Sri Lankan government's car import ban, its business development was slow. However, with the lifting of the car import ban earlier this year, the door to market access has opened. Thus, BYD ATTO 3, Dolphin and other main products have completed their first batch of shipments.

In order to cooperate with the expansion of overseas markets, BYD is also actively recruiting talent. A typical example is that it recruited several executives from Stellantis last October.

In addition to executives, BYD is also actively recruiting local employees, especially in newly entered countries. BYD is currently recruiting in places such as the UK, France, Hungary, and Turkey. Its South Korean subsidiary, which began selling passenger cars this year, is also hiring.

As BYD's sales territory continues to expand, its sales target for this year is also high. The global sales target for this year is 5.5 million units. Excluding China, overseas planned sales exceed 800,000 units. This is twice the scale of last year.

Some analysts believe that President Trump's recent comprehensive tariff increase may actually be an opportunity for BYD. Due to the low proportion of exports to the US, compared to competitors, tariffs have negligible impact on BYD. Competitor Tesla has already felt the impact of retaliatory tariffs.

Original article: https://www.toutiao.com/article/1830613275910156/

Disclaimer: This article only represents the views of the author.