Chinese Automaker BYD Ships First Batch of Electric Cars to Norway

(Source: BYD)

Chinese automaker BYD sent 100 of its “Tang” models to Norway on Monday, marking the first batch in the planned delivery of electric vehicles (EVs) to the European market.

Customized for local regulations and consumer needs in their configuration, the Norwegian version of the firm’s Tang EV is priced at 599,000 Norwegian krone (about $72,600). Cooperating with local car distributor RSA for dealerships and customer service, BYD will attempt to deliver a total of 1500 models to the country by the end of this year.

BYD, which stands for “Build Your Dreams,” was established in Shenzhen in 1995 and has since become one of the leading players in China’s increasingly competitive new energy vehicle market.

Alibaba-backed Xpeng and Tencent-backed NIO, two other major Chinese EV producers, are also forging inroads to the European and international markets through Norway.

Xpeng sent its first 100 smart EVs to Nordic countries last December, and is planning to deliver its new models to other European countries this year. NIO also announced that they will enter the Norwegian market and build its sales and service networks directly as its first overseas endeavor.

“Norway is the most EV-friendly country,” NIO founder William Li explained. The Scandiniavian nation boasts the highest penetration rate of EVs in the world, with the proportion of EVs in all new car sales reaching 54.3% last year.

SEE ALSO: Chinese EV Maker Nio to Begin ES8 Deliveries in Norway This September

Chinese companies are facing fierce competition as latecomers to the global race to develop and manufacture clean energy vehicles. Volkswagen, Tesla and Audi represented the top three sellers of EV models across the world in 2020.

Stefan Bratzel, director of German firm Automotive Management said in an interview that Chinese brands are very competitive in terms of pricing and innovation technology, adding that he expects that more and more Chinese EVs will be recognized by the European market in the future.

A report from Schmidt Automotive Research shows that the total sales of Chinese EVs in 18 major European car markets in 2020 has reached 23,836 units, increasing by more than 13 times since 2019.

Furthermore, an analysis by the International Energy Agency (IEA) found that EU countries have expanded their subsidies for EVs, which has in turn fueled the rapid development of the market. It also estimates that the global EV sales will reach 25 million in 2030, and the global EV stock could be as high as 230 million if countries take strong measures to achieve the climate goals of the Paris Agreement.