BYD targets Tesla's backyard as it doubles down on Europe

Core Insights - BYD is aggressively expanding its presence in Europe, particularly in Germany, aiming to nearly triple its sales and service locations by the end of 2026 [1] - The company has successfully outsold Tesla in Europe for the second time in July, indicating strong sales momentum [2] - BYD is establishing a factory in Hungary with a production capacity of 200,000 cars per year, set to begin production by the end of 2025 [3][8] Expansion Plans - BYD plans to double the number of its stores in Europe to over 2,000 by next year [1] - The company is also introducing ultra-fast "megawatt" EV chargers in Europe, with plans to install 200 to 300 units by the second quarter of 2026 [9] Product Offerings - BYD currently sells 13 models in Europe, with significant sales growth reported this year [2] - The new SEAL 6 DM-i Touring hybrid sedan, featuring a combined range of up to 1505 km, was showcased at the IAA Mobility summit [3]