BYD, a Chinese electric car producer, aims to concentrate on manufacturing compact vehicles.
Chinese electric car maker BYD is planning to concentrate on producing small cars for the European market. As per a preliminary report in Capital magazine on Wednesday, the company's European marketing chief, Penny Peng, mentioned that there will be models introduced in the B-segment for Europe starting from next year. Famous B-segment cars include the VW Polo, Opel Corsa, and Renault Clio.
Peng added that these small cars will be manufactured in BYD's first factory in Hungary, which is customized for the European market. This strategy also provides a benefit as the company would not be impacted by any penalties on imported Chinese cars. "We will then be a European manufacturer," she stated.
BYD is the global leader in electric car production. Moreover, most European automakers have not produced any electric models of small cars till now. The electric vehicles produced or planned by VW or Citroën cost above 20,000 euros. According to Peng, BYD's rival vehicle will have a significantly lower price tag.
It's also a blow for Volkswagen that BYD has replaced the German company as the primary sponsor of the European Football Championship. "This could potentially increase the brand's exposure," the Chinese marketing chief hopes.
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Source: www.ntv.de
