BYD announces European expansion with new zero-emission models
BYD, the Chinese clean energy expert that produces electric vehicles and batteries, is blazing a zero-emissions trail around the world. The company recently reported a surge of sales in its domestic market this January (traditionally, a slow month for the industry), and is working on a number of initiatives, like the world’s biggest electric bus fleet. And it’s not just expanding at home: this week, the company said it would be adding three new zero-emission commercial vehicle lines for its European customers.
BYD’s share price has risen by 11% over the past 30 days
Source: Yahoo Finance
The new vehicles within the ranges are as follows: the BYD T3 van, the BYD pedestrian pallet truck, the BYD Q1M yard tractor, the BYD counterbalance forklift, and the BYD T6 light truck. |The products were recently launched in Murcia, Spain, and this is the first time they have been available in Europe. However, sales are picking up. According to Industry Europe, the forklift models already “count their European sales in the thousands” – that’s a tiny proportion of the company’s Chinese sales, but a good start nonetheless.
BYD Europe’s managing director, Isbrand Ho, said: “This is a highly significant step for BYD – the introduction of a whole range of proven and competitive zero emission vehicles spanning key sectors of the commercial vehicle sector. Our previous pure electric products have cemented their position in their respective categories – taxis, city buses (we are now the market leader in Europe and have recently produced our 50,000th ebus worldwide) and forklifts (this year we expect to have completed deliveries of 3,000 units to European customers). We are confident that this fourth product range – etrucks – will also win sales success even though the European CV sector is intensely competitive.”
Dominion holds BYD in its Global Trends Managed Fund.
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