BYD Aims to Localize 75% of European Sales

On June 8, Li Ke, Executive Vice President of BYD, stated that the company aims to localize production for 75% of its vehicles sold in Europe. She also noted that thanks to supportive policies and an expanded model lineup, the penetration rate of new energy vehicles (NEVs) in China has risen rapidly—hybrid and battery-electric vehicles already accounted for more than half of all newly sold passenger cars in China in 2024, reaching 62.9% in May. By comparison, the electric vehicle (EV) penetration rate in the U.S. stands at around 10%, while the global average is approximately 25%. Li added that demand for BYD models in China is currently about twice the company’s delivery capacity, driven by its fast-charging technology capable of charging batteries to 70% in just five minutes. She predicted that the next phase of industry competition will center on advanced driver-assistance systems (ADAS). Currently, BYD primarily uses NVIDIA’s ADAS chipsets and employs around 7,000 engineers dedicated to semiconductor development. Additionally, Li revealed in May that BYD plans to intensively launch new models specifically designed for and developed locally in the European market over the next three years.