BYD targets 6% of the UK EV market over the next few years
By the end of 2024, BYD expects to have a UK network of 100 franchised dealerships. It s also planning a network of 200 repairers by the end of next year.
BYD aspire to capture 6% of the UK electric vehicle market over the next few years on the back of an accelerated model launch plan that has seen 3 cars already unveiled and another 3 or 4 expected in 2024.
But wants to maintain a balance, and avoid distressing residual values (RVs), which means no part of the market, whether fleet, rental, Motability or retail, will exceed the 6% share threshold as the company begins to build its volumes.
In addition to the six or seven BYD models over the next year or so, the company is also considering bringing its Denza premium brand to the UK with the D9 MPV, which targets limo companies.
"But we also have more sub brands that could come out like Denza and YangWang at the luxury end. There is huge demand in China for the Denza D9 as executive transportation but there is also an SUV that we may get," Simon Bisp, BYD UK head of sales said.
He added: "Yangwang is on our Platform 4.0 which is what we will get for the next generation of BYD."
As a measure of its growth ambitions, with electric cars on track to hit 350,000 units this year, a 6% share would equate to 21,000 cars, although that target number will continue to rise as demand for BEVs increases.
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