Chinese EV maker BYD is set to enter the UK later this year, and local car dealer Pendragon on September 21 revealed in its financial results for the first half of 2022 that it has held discussions with BYD on cooperation.
Pendragon said the move was designed to boost the company’s new car franchise business. Chief Executive Bill Berman said, “We have delivered these results in the face of challenging trading conditions in our sector due to supply constraints on both new and used vehicles and the impacts of inflationary pressures. We expect the environment to remain challenging in the second half of the year.” Moreover, Berman expected the company to be BYD’s partner in the UK with discussion entering the final stages.
BYD is trying to expand its business abroad, aiming to become a global brand. According to its announcement on September 21, its website will be changed from www.byd.com to www.bydglobal.com, representing its determination to enter the global market.
BYD’s journey abroad dates back to 1999, when it set up a battery business in Rotterdam, the Netherlands. Around 2011, BYD started to explore overseas markets, and chose public transportation and the fleet business as its entry point.
In August last year, BYD Tang entered the Norwegian market, marking the start of BYD’s passenger cars into the Europe. At the upcoming Paris Auto Show in October, BYD will showcase three models, including the Atto 3 (known as Yuan Plus in China), the Tang and the Han, which will be delivered to the European market by the end of this year. However, according to The Driven‘s report, only the BYD Atto 3 will enter the UK market.
For the UK market, BYD has teamed up with ADL, a British bus manufacturer. In May, the company delivered its 500th electric bus in the country to Go Ahead, an operator owned by Transport for London, and announced cumulative sales of more than 1,000 electric buses in the UK, all of which will be delivered to bus operators within the next year.
BYD is also performing well in other markets. In early September, BYD signed a land purchase agreement in Thailand to build its first overseas electric vehicle factory in Southeast Asia. The company is also targeting markets such as Cambodia, Denmark, Japan, Sweden and Israel to expand its overseas presence.