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BYD is taking over German distributor Hedin Electric Mobility, which has been handling its vehicle imports, to enhance its presence in the European EV market.
According to Reuters, this move aligns with BYD’s ambitions to become a key player in Europe’s EV industry.
BYD will create a new entity, BYD Automotive GmbH, to manage vehicle and parts sales in Germany and oversee its flagship stores in Frankfurt and Stuttgart. The deal is awaiting regulatory approval and is projected to be finalized in the fourth quarter of 2024.
This transaction comes as Chinese EV makers face challenges in Europe, including weakening demand and new tariffs on China-made EVs.
Hedin Electric Mobility, a Swedish mobility group, has served as BYD’s general importer in Germany since 2022, supplying cars and parts to approximately 30 dealerships. This acquisition will allow BYD to engage directly with dealers, enhancing flexibility in pricing and vehicle availability in Europe’s largest car market. Despite the acquisition, Hedin Mobility’s German dealerships will continue their partnership with BYD.
BYD also collaborates with other dealers in Germany, including Sternauto, which opened a Berlin store for the brand earlier this year.
