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China's BYD expects to swiftly lift sales in Germany, executive tells FAS
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China's BYD expects to swiftly lift sales in Germany, executive tells FAS
Oct 12, 2024 5:05 AM

FRANKFURT, Oct 12 (Reuters) - Chinese electric carmaker

BYD expects to boost sales in Germany within six

months, executive vice president Stella Li said in an interview

published on Saturday.

BYD would gain a foothold in Germany in "less than half a

year," Li told the Frankfurter Allgemeine Sonntagszeitung (FAS)

newspaper.

She criticised European Union tariffs on China-made electric

vehicles (EVs) from next month, which Germany had opposed, as a

loss for the consumer, adding BYD would start producing cars by

the end of 2025 in Hungary.

"I think we will become an important market participant here

in Europe," she told FAS ahead of the Paris Motor Show, which

starts on Oct. 14.

German sales teams were being expanded to work on winning

over consumer trust as the company's strategy was to establish

its presence for the long-term, Li said.

She declined to comment on sales targets but indicated that

prices would be in a range between 25,000 euros ($27,342) and

30,000 euros each.

"We are still working on our plan," she said.

Li said in her opinion European carmakers were not

competitive because they lacked certainty of a consistent EV

policy and were trying to shut out healthy competition.

($1 = 0.9143 euros)

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