Warren BuffettChinese electric vehicle giant BYD Co Ltd WANT I WILL DO IT officially entered the Greek market on Thursday, marking a significant milestone in its European expansion. The company held a launch ceremony in Athens on Wednesday, showcasing its electric vehicles.
What happened: Sfakianakis Group will initially distribute the BYD Atto 3 SUV and BYD Seal sedan, followed by the Dolphin sedan and Seal U SUV. While the Atto 3 starts at 37,990 euros (approximately $41,000), the Seal starts at 45,990 euros (approximately $49,830 ).
The first two BYD stores will open in Athens, allowing customers to interact with vehicles and place orders.
Because matter: Since entering Europe in late 2021 with a single model in Norway, BYD has collaborated with local partners and opened over 250 stores in 20 countries.
Despite entering eight markets, including France, Germany, Italy and the UK, BYD’s European share remains minimal, selling just 13,250 cars (0.1%) through November 2023, according to Automotive News Europe.
BYD reportedly aims to become a top five player in European registrations in the medium term and potentially even challenge Tesla with its low-priced electric vehicles. Tesla’s Model 3 starts at 41,990 euros (about $45,477), while the Model Y SUV starts at 44,990 euros (about $48,727).
Interestingly, BYD surpassed Tesla in global BEV sales in the final quarter of 2023, selling 526,000 BEVs compared to Tesla’s 485,000.
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