BYD Co. is underlining its European ambitions at the Geneva auto show this week by showing models including a 1,200-horsepower luxury sport-utility vehicle that can float on water.
The Yangwang U8 plug-in hybrid – which is also capable of doing a 360-degree “tank tour” on the spot – would compete with the Mercedes-Benz G-Class and Land Rover Defender and represent BYD’s push into the automotive market. luxury.
After pushing aside Volkswagen AG as China’s top-selling automaker, BYD is expanding into Europe to create new revenue streams and escape a vicious price war in its home market. Europe’s major automakers, meanwhile, are struggling with the complexities of switching to electric vehicles as they face cooling demand for the new technology.
While the Yangwang U8 is meant to showcase BYD’s technological prowess, the manufacturer is also bringing more mass-market products to Geneva. They include a facelifted version of the five-seater Seal SUV and the all-electric Tang, which can travel 530 kilometers on a charge.
The company that overtook Tesla Inc. as the world’s largest electric vehicle maker in the fourth quarter has already started selling models in the region, including the Dolphin. The compact electric vehicle is priced at around 7,000 euros ($7,600) less than a similarly equipped VW ID.3, which the German automaker originally billed as the Beetle of the electric vehicle era.
However, it is unclear how successful the company will be with European drivers. Brussels is investigating the extent to which China has supported its electric vehicle makers – including BYD – in a probe that could result in additional tariffs being imposed as early as July.
VW, Stellantis and Renault are working independently on models costing 25,000 euros or less, with the latter showing its R5 E-Tech EV in Geneva. The new version of the boxy 1970s classic is set to provide the first 400 kilometers of range on a single charge. Mercedes-Benz Group AG and BMW AG plan to launch several new electric vehicles with improved technology by the middle of the decade. Some European car manufacturers are also considering the possibility of teaming up to counter the Chinese influx.
BYD did not provide many details on the price and availability of the vehicles it will present in Geneva. The 17.5-foot-long Yangwang U8 sells in China for about $150,000. Prices for the company’s models tend to be higher in Europe than in the domestic market. The G-Class starts at around $128,000 in Germany.
The Chinese automaker previously said its premium Denza brand, 10% owned by Mercedes, will launch in Europe in the fourth quarter.
Other brands at the Geneva motor show this week include Lucid, MG Motor and Isuzu. Most major European automakers are absent.