GGermany started Euro 2024 in Munich, known for football legend and BMW, a major German car exporter.
Unlike BMW, Volkswagen, or Mercedes-Benz, China’s BYD is the only car manufacturer sponsoring the tournament.
This move led to a 69% increase in views of BYD models on Auto Trader’s website during the tournament’s first weekend compared to the previous week.
BYD is a major competitor to Tesla, the world’s largest electric car maker, focusing on the European market where it faces threats of EU tariffs.
Despite possible tariffs, many experts believe that BYD’s expansion into the European auto market will continue.
Subsidies and tariffs
BYD may face tariffs, but its lower reliance on subsidies compared to rivals like Geely and SAIC gives it a competitive edge.
BYD’s innovative electric cars and advantageous pricing strategy hint at its potential for growth in the European auto market.
The company’s success as a major player in the electric vehicle market is contributing significantly to the global shift away from traditional gasoline and diesel vehicles.
Battery Advantage
BYD’s expertise in battery manufacturing, particularly its use of low-cost lithium iron phosphate chemistry, positions it as a key player in the clean energy vehicle market.
By focusing on clean energy technologies, BYD is making significant contributions to the global transition towards sustainable mobility.
Source: www.theguardian.com
