BYD has acquired the German distributor Hedin Electric Mobility, responsible for vehicle imports, with the aim of strengthening its presence in the European electric vehicle market.

According to Reuters, this strategy aligns with BYD’s goal of establishing itself as a key player in the European electric vehicle industry.

To manage car and parts sales in Germany, BYD will form a new entity called BYD Automotive GmbH, which will also oversee flagship stores in Frankfurt and Stuttgart. This agreement, still subject to regulatory approval, is expected to close in the fourth quarter of 2024.

This acquisition comes at a time when Chinese electric vehicle manufacturers are facing challenges in Europe, such as weakening demand and the implementation of new tariffs on electric vehicles made in China.

Hedin Electric Mobility, a Swedish mobility group, has been BYD’s general importer in Germany since 2022, supplying cars and parts to around 30 dealerships. With this acquisition, BYD will be able to interact directly with dealerships, allowing for greater pricing flexibility and better vehicle availability in Europe’s largest automotive market. Despite the change in ownership, Hedin Mobility’s German dealerships will continue to work together with BYD.

Moreover, BYD maintains collaborations with other distributors in Germany, such as Sternauto, which opened a brand store in Berlin earlier this year.

By: Nestor Castillo, ForAllTechNews Director

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