By Victoria Waldersee
BERLIN (Reuters) - Chinese electric vehicle maker BYD’s low-cost Dolphin Surf became its 10th model available in Europe on Wednesday, with the Berlin launch increasing pressure on European rivals to produce more affordable alternatives.
The car will sell at three price points, from 22,990 euros ($26,100) for a 322-kilometre (200-mile) range, to 24,990 euros for a 507-kilometre range.
Until the end of June, the three versions will be available at a discounted price of 19,990-24,990 euros, sales chief Patrick Schulz said on Wednesday.
The car piles pressure on European automakers to offer more affordable electric alternatives, with cost still a major barrier to wider adoption of EVs.
Only a handful of models, such as the Dacia Spring or Leapmotor’s T03, are on sale in Europe for under 20,000 euros, although 11 new models priced under 25,000 euros will go on sale this year, including Volkswagen (ETR:VOWG_p)’s ID.2, the Renault (EPA:RENA) R5, the Fiat (BIT:STLAM) Grand Panda, and the Hyundai Inster.
"The compact segment is the next frontier for electrification in Europe," Maria Grazia Davino, BYD regional managing director for markets including Germany, said in Berlin. "We think this market has huge potential."
The Chinese version of the vehicle, the Seagull, has fuelled BYD’s exponential rise in China, second only to Tesla (NASDAQ:TSLA)’s Model Y in total sales in 2024 with over 442,000 registrations.
Globally, sales of the model have risen 45% this year so far to 170,000, BYD said on Wednesday.
BYD, which last year surpassed Tesla to become the world’s largest EV manufacturer, is overhauling its European operations, widening its dealer network, offering more hybrids and hiring managers with local experience, after early stumbles in the region stymied sales.
Sales data indicates the revamp is working. In Germany, sales reached 2,791 in the first four months of the year, data from Germany’s motor authority KBA showed, fast approaching the 2,891 vehicles it sold all year in 2024.
That success is mirrored across Europe, where sales quadrupled in the first quarter to 37,201 cars, in sharp contrast to Tesla’s sales, which plunged 37.2%.
BYD will enter 12 new markets in Europe this year, Davino said, with sales locations to expand to over 1,000.
($1 = 0.8808 euros)