China’s leading electric vehicle (EV) manufacturer, BYD
Recently entered the Greek market
Planning to focus primarily on emerging market
Chinese EVs are expanding beyond their home country and into the global market. Having previously targeted various markets, including Korea, Japan, and Europe, through electric buses, these companies are now setting their sights on the electric passenger car market. BYD, the top EV brand in China, essentially drives this trend. BYD is currently strengthening its software capabilities through collaborations with Apple and Nvidia.
Recently, BYD unexpectedly entered a new country—specifically, Greece. They have opened stores in Greece directly and even launched new cars. As they venture into the European passenger car market for the first time, they actively receive support from their headquarters to stimulate market growth. Let’s take a closer look at this news.
BYD’s entry into the Greek market was quickly followed by the launch of the Atto 3 and Seal
On March 21, BYD officially entered the Greek market by opening a sales store there. With their entry, they launched two models simultaneously—the Atto 3 and the Seal, both flagship models of the BYD brand.
The Atto 3 is a compact electric SUV developed by BYD based on the e-Platform 3.0. This model has a 60.5kWh lithium iron phosphate battery, giving it a WLTP-rated range of 420 kilometers (261 miles). It also features an electric motor that delivers a maximum output of 204 horsepower and a maximum torque of 31.6kgf.m.
The Seal is a mid-size electric sedan that follows the Dolphin in BYD’s Ocean series. Based on the dual-motor model, it is equipped with an 82.5kWh lithium iron phosphate battery, giving it a range of 650 kilometers (403 miles). The power performance is a maximum output of 525 horsepower, a maximum torque of 66.2kgf.m, and a 0-100 km/h (0-62 mph) acceleration time of 3.8 seconds. It was the first Chinese EV selected as Europe’s Car of the Year in 2024.
BYD, which has been eager to enter overseas markets
continues to receive active support from its headquarters
Currently, BYD sells more vehicles than Tesla. As its influence grows, BYD is expanding its collaborations with Apple and Nvidia. However, 90% of its total sales come from the domestic market in China. Given this situation, BYD has been strongly wishing to increase its exports to overseas markets.
In response to this situation, they entered the Greek market. This is, in fact, the first time that the BYD brand has entered the European market. How about that? Naturally, their headquarters actively support them. They plan to open two additional stores in Athens in the future and are even considering expanding their AS network through a collaboration with the local Greek company Sparkianakis.
Rather than challenging the U.S. market
BYD has decided to focus on emerging markets
Surprisingly, BYD has no immediate plans to sell its vehicles in the U.S., a country known for its advanced auto industry. There are various reasons for this, but the main one is undoubtedly tariffs. Currently, the U.S. imposes a hefty 27.5% tariff on Chinese-made cars, a rate significantly higher than that for vehicles from other countries. They have even expressed a willingness to raise this rate to 125%. Recently, there was even a proposal to double the tariffs on Chinese cars assembled in Mexico to 100%.
Given these circumstances, BYD has reluctantly turned its attention away from the U.S. market.
Instead, they are actively targeting emerging markets. Starting with the Greek market, they plan to enter markets in Africa, the Middle East, and Oceania, where EV sales are not exceptionally high. What results will BYD’s emerging market strategy yield in the end?
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