China's BYD to focus on plug-in hybrid cars in European expansion

Reuters12-09

China's BYD to focus on plug-in hybrid cars in European expansion

MILAN, Dec 9 (Reuters) - Hybrid technology will be key for the European expansion of Chinese EV giant BYD 002594.SZ amid soft demand for fully-electric vehicles, the special adviser in the region for the manufacturer said on Monday.

BYD, China's top electric vehicle producer, entered Europe's passenger car market in 2022. It has an aggressive product roll-out plan for next year, which will help it expand its line-up.

Alfredo Altavilla, a veteran auto industry executive who has served as Fiat Chrysler's European chief, was appointed as BYD's special adviser for Europe earlier this year.

Hybrids will be "at the core of BYD strategy in Europe," he said during a product event in Italy.

BYD makes both pure and plug-in hybrid electric cars, which the automaker refers to as 'dual mode'. Plug-in hybrids currently account for around 70% of BYD sales in Italy.

"It would be stupid to go against the market, it's pretty clear where the market is going in Europe, especially in Southern Europe," Altavilla said, referring to a slowdown in EV demand this year.

"We'll of course have several EV models in our European offerings, but hybrids will be key for European customers".

(Reporting by Giulio PiovaccariEditing by Mark Potter)

((giulio.piovaccari@thomsonreuters.com))

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