Li cited the flexibility and reduced running costs of a PHEV powertrain as the principal selling points. “Once you introduce PHEVs and educate people and offer them at a competitive price, people realise the saving. Then the number of NEVs [new-energy vehicles] will see very solid growth,” she said.
Li stopped short of confirming which PHEVs BYD will bring to Europe next year, but it sells DMI versions of the Seal 06 and Seal 07 saloons in China, as well as the Song-L crossover.
The brand plans to launch its Fangchengbao range-extender 4x4s in mainland Europe and the UK in the near future, but Autocar understands these are separate from BYD’s PHEV push.
The company will also bring three new EVs to the European market, possibly including the Ocean-M hatchback and Sea Lion crossover.
Diversifying its powertrain offering in Europe will help BYD to mitigate the impact of the substantial 17.4% import tariffs that have been imposed on its Chinese-built pure-electric cars by the EU Commission, though the company is also working to quickly establish European factories so it can avoid these entirely.
The company will begin building cars at its new factory in Hungary by the end of 2025 and a separate new facility in Turkey will come online shortly after, which would make BYD the first Chinese car brand to open its own European factory.
“BYD is a global leader and now we are turning ourselves into a local company,” Li said. “Localisation is one of our key targets. In the next two years, BYD will become a European company. We will produce locally. We will do R&D locally. BYD will become really a European brand.”
She said BYD has not yet decided which cars it will build on the site but suggested all current and future European-market models would be considered. “The most popular cars we will produce locally here,” Li said.
