The local importer of the new Chinese electric vehicle giant BYD suggests that the company could offer up to eight electric vehicles by 2024, including a ute, thanks to a new global platform and well-funded right-hand drive production lines.
BYD, partially backed by Warren Buffett and better known for its electric buses and batteries, is currently undertaking a significant global expansion.
After unveiling the electric SUV BYD Atto 3 priced at around $45,000 in February with shipments starting in mid-year, the company is now focusing on introducing a small electric hatchback (EV) and a sports EV sedan by late 2022, or potentially early 2023 if supply delays occur.
While it briefly sold the BYD T3 EV pickup and the E6 minivan, the Atto 3 is its first real volume play.
In the next year, a larger EV SUV and, notably, an electric ute, are both in the pipeline.
The ultimate goal is up to eight EV models by mid-2024, with the aspiration to be one of the top 5 brands overall, facilitated by Chinese production lines.
This would be extraordinary growth out of nowhere, driven by BYD’s confidence in the growing adoption of electric vehicles in Australia and a continued lack of supply for key “legacy” competitors.
These bold claims come from Luke Todd, CEO and Managing Director of the Australian importer appointed by BYD, EVDirect.com.au, with whom we spoke this week.
“We’ve been overwhelmed not just with buyers but also with people interested in the product. BYD is a new brand for some, and they’ve never heard of it, but for others, BYD has been a highly anticipated brand,” Todd said. “We are comfortably on track to be the second-largest electric vehicle company with deliveries for this year,” he added, specifically referring to Australia.
This latter claim indirectly references the dominant market player, Tesla, which sold over 12,000 Model 3s here last year. In contrast, all other electric vehicle manufacturers combined sold 5149, giving an indication of the gap BYD hopes to fill.
Mr. Todd declined to disclose the specific number of orders currently being placed through EVDirect.com.au, guaranteed by a deposit and offered with low-interest financial deals as an incentive.
EVDirect.com.au recently signed a memorandum of understanding with Australia’s largest publicly traded dealer group, Eagers Automotive, with the intention of having around 20 fixed-price retail sites by 2024, expanding its online store.
An existing agreement with Mycar, the independent repair shop formerly known as Kmart Tire & Auto, is in place to act as an additional service and delivery partner, Todd added, stating that the approach was an “omnichannel” designed to cater to all types of buyers.
Regarding the product, Todd claims that the Atto 3 will be joined in 2022 by the $35,000-$45,000 EA1 EV hatchback, sold in China as the Dolphin.
He also aims to launch a new stylish sedan model called BYD Seal (in China) here before the end of the year or early 2023, although the chosen name is unclear. There are spy photos of the Seal being tested all over the internet; take a look.
In 2023, the focus will shift to the larger BYD Song Pro Plus SUV and the mysterious electric ute.
