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Beating Tesla In Europe, Chinese Automakers Take Record Share Of EV Market As BYD Sales Surge - BYD (OTC:BYDDF), BYD (OTC:BYDDY)
Benzinga· 2025-12-31 11:14
Group 1 - Chinese automakers achieved a record 12.8% market share in the European EV market in November, according to Dataforce [2] - Key players in this growth include BYD Co. Ltd., Leapmotor, and Chery Automobile, with Chinese-made hybrid vehicles also surpassing 13% market share across the EU, EFTA countries, and the UK [2] - BYD reported a remarkable 222% increase in sales in Europe during November, contrasting with Tesla's 23% decline in U.S. sales [3] Group 2 - Chinese exports of vehicles grew by over 87%, with exports to Europe increasing by 63% year-over-year, totaling 42,927 vehicles [4] - In December, over 199,836 vehicles were exported from China, indicating strong international demand [4] - Xpeng Inc. is expanding into Europe, targeting markets in Estonia, Lithuania, and Latvia, as well as Cambodia in Asia [4]
Tesla Rival BYD Recalls 88K Plug-In Hybrid Vehicles In China Over Battery-Related Safety Hazards - BYD (OTC:BYDDF), BYD (OTC:BYDDY)
Benzinga· 2025-11-28 11:46
Group 1 - BYD Co. Ltd. has recalled over 88,981 units of its Qin PLUS DM-i Plug-In Hybrid Electric Vehicle (PHEV) in China due to battery issues [1][2] - The recall affects units manufactured between January 7, 2021, and September 30, 2023, as per China's State Administration of Market Regulation [2] - Defects in the battery pack may lead to a loss of power and could prevent the vehicle from operating in pure-electric mode, posing safety hazards [3] Group 2 - Despite the recall, BYD has experienced significant growth in the European market, with registrations increasing by over 206.8% in October, totaling over 17,470 units [4] - Year-to-date, BYD has recorded over 138,390 registrations in Europe [4] - The company plans to introduce its 'Kei' car in the European market, pending regulatory approval from the EU [4]