Chinese electric vehicle giant BYD has solidified its European market position by acquiring its German distributor, Hedin Electric Mobility. This strategic move aligns with BYD’s broader goal of becoming a major player in the European electric vehicle market.
Under the terms of the acquisition, BYD Automotive GmbH will assume direct control of sales activities, parts distribution, and store management for BYD vehicles in Germany. The deal is subject to regulatory approval and is anticipated to close in the fourth quarter of this year.
This acquisition will grant BYD greater autonomy in shaping its German strategy, particularly as sales have declined this year in line with an industry-wide slump in EV demand. While BYD’s sales in Germany totaled just over 4,000 units last year, the company is aiming to reverse this trend through increased control over its operations.
Prior to the acquisition, Hedin, a Swedish mobility group, served as BYD’s partner in managing relationships with six German dealers. However, with BYD’s growing ambitions, direct ownership became a more desirable approach. Following the transaction, Hedin will continue to operate as an authorized BYD retailer in certain regions of Germany while maintaining its partnership with the company in the Swedish market.
“BYD is committed to fostering strong long-term partnerships. The existing partnerships with the German retailers will continue. Together with its retail partners, BYD will further extend outstanding customer services and warranty support in Germany,” said Stella Li, Executive Vice President of BYD Company Ltd.
“Over the past two years, we have worked with BYD to develop the German market. The foundation is now in place to scale up volumes, and we look forward to continuing this journey in Germany together with BYD as a dealer,” said Anders Hedin, CEO & Founder of Hedin Mobility Group.
BYD’s expansion into Europe is part of a broader global strategy that also includes manufacturing sites in Europe and Mexico. The company has set an ambitious target of 20% annual sales growth, supported by aggressive discounts on its popular EV models. Overseas shipments accounted for nearly 12% of BYD’s total sales in the first seven months of the year, with Britain emerging as a particularly strong market.
