To The Moon

This is a summary of recent highlights about BYD with news from CnEVPost:

BYD signs deal to supply 5,000 EVs to UK car rental firm Octopus EV over 3 years

On March 8, BYD announced the official start of sales of the Atto 3 in the UK, its first passenger car offered in the country. The model will start at £36,490 ($43,230) in the UK and local deliveries will begin on March 15, BYD said last week.

On October 4, 2022, BYD announced a partnership with German car rental company SIXT, which committed to buying 100,000 electric vehicles from it over the next few years.

BYD launches 4 models in Jordan

BYD has launched the Dolphin, Tang EV, Atto 3 and Han EV in Jordan, the first stop for the NEV maker to expand into the Middle East market. In addition to the launch of these four models, BYD also announced plans for a strategic cooperation plan with MSTC.

The two parties will cooperate in sales, after-sales and maintenance to provide service and support to consumers in the Middle East, an important step in BYD's continued growth in the Middle East market, BYD said.

BYD launches new Han sedan and Tang SUV with lower prices

BYD announced today that the two models received 8,196 orders on the day they were launched on March 16. BYD launched the 2023 Han EV and 2023 Tang DM-i at its March 16 online event, both starting at RMB 209,800 ($30,440).

BYD delivers 22 electric buses in Indonesia

This is the second batch of electric buses delivered by BYD in Indonesia after it delivered 30 in the country a year ago. In 2022, BYD and its Indonesian partner VKTR Group announced a partnership with Tri Sakti, a local bus assembly plant.

On March 8, 2022, the first 30 BYD buses were delivered to Transjakarta, a bus operator in Jakarta, which were the first all-electric buses to be put into operation in Indonesia. Up to now, BYD has promoted electric public transportation systems in more than 70 countries and regions and 400 cities around the world, according to the press release.

BYD makes brand debut in Uzbekistan, starts local pre-sales of 3 models

BYD introduced three models in Uzbekistan and its three pioneering stores in Tashkent will open in March. In February 2022, BYD and Uzavtosanoat JSC (UzAuto) signed a mutual memorandum of understanding, agreeing to study the feasibility of joint production of electric passenger cars and electric buses in the Central Asian country.

UzAuto, established in 1994, is the largest and only car manufacturer in Central Asia with a complete automotive industry footprint and an extensive local and inter-regional sales network and after-sales service system.

On December 30, 2022, BYD announced that it had signed an agreement with UzAuto to establish a joint venture that will focus on the production of NEVs and their components. The joint venture will be based in Uzbekistan and will focus on the future production of several of BYD's best-selling NEV models, including the DM-i Super Hybrid, and related components, according to a BYD press release at the time.

My investing muse

BYD has been making inroads out of China, into Europe, Middle East, Central Asia and Southeast Asia. The EV offerings range from passenger cars to commercial vehicles. BYD has been successful in entering these various markets partnering with rental partners, sales channels and even entering into manufacturing joint ventures. In the earlier weeks, BYD announced the building of a new manufacturing facility in Thailand with an annual capacity of 150,000 units.

Beyond just opening new markets, BYD has been setting up strategic partnerships and manufacturing capabilities with some of the local players. This will boost the local economy, encourage local adaptation and reach their target market without relying on their China-based factories. This can work in their favour over time with a possible reduction in supply chain costs and the advantage of being present in their target markets.

It is too early to ascribe success but BYD is definitely making all the right moves despite a volatile market, tossed around by the waves of banking fears. Let us research before investing.

@TigerStars

$BYD Co., Ltd.(BYDDY)$