Chinese EV Maker BYD to Acquire German Car Distributor Hedin Electric

Chinese EV manufacturer BYD has announced its plans to purchase Hedin Electric Mobility, its German distributor. This move is designed to strengthen BYD’s position as a European leading electric vehicle manufacturer. 

Under the agreement, BYD Automotive will be responsible for selling BYD vehicles and parts in the German market and overseeing its stores in Stuttgart and Frankfurt. The deal is currently awaiting approval and is expected to be finalized in the fourth quarter.

The decision will give BYD more control over its strategy in the country. Sales in the country totaled just over 4,000 in the previous year. However, this year, sales have declined in line with a general decrease in demand for electric vehicles. 

Hedin, a Swedish mobility group, previously managed BYD’s connections with six dealers across Germany. The purpose was to help the Chinese EV manufacturer enter the European market. Hedin also handles the distribution of other Chinese car brands such as XPeng and Hongqi.

BYD is collaborating with multiple dealers in Germany, such as Sternauto, which established a store in Berlin for the brand this year. Hedin Automotive eMobility GmbH will continue selling BYD cars in three German cities. 

The company, known for producing batteries and electric vehicles (EVs) and leading electric car sales in China, has been expanding its global footprint and preparing to build manufacturing facilities in Europe and Mexico.

BYD aims for a 20% increase in annual sales, offering competitive discounts on its popular EVs to maintain its leading position. Overseas shipments constituted 11.9% of BYD’s total sales in the first seven months of the year, with the UK being its strongest market in Europe.