BYD Accelerates Canadian Expansion: Plans 20 Stores in First Year, Focusing on Affordable EVs

BYD is accelerating its expansion into the Canadian market, planning to open approximately 20 branded stores within its first year in the country. The company is actively scouting locations in the Greater Toronto Area, with negotiations already underway for three potential sites. BYD’s initial 2024 entry plan was put on hold due to Canada’s imposition of a 100% tariff on Chinese electric vehicles; however, the tariff was significantly reduced to 6.1% in January this year, opening the door for market entry. The company has hired a local consulting firm to assist with nationwide site selection and will gradually expand to Vancouver, Montreal, and Calgary. Although specific models have not yet been announced, given Canada’s policy preference for EVs priced under CAD 35,000, more affordable models such as the Atto 3 or Dolphin are likely to be introduced first. Additionally, BYD is considering building a local manufacturing plant or acquiring an existing automaker in Canada, while maintaining full operational control. Other Chinese automakers, including Chery and Geely, are also simultaneously advancing their own plans to enter the Canadian market.