BYD (HKG:1211, SHE:002594) plans to nearly triple its dealership network in South Africa by next year as it looks to expand its share in the country's growing new energy vehicle (NEV) market, Reuters reported Thursday, citing a senior executive.
BYD currently operates around 13 dealerships and aims to increase that to 20 by the end of 2025, and to 30-35 by 2026. The Chinese EV maker entered South Africa in 2023 with its ATTO 3 electric SUV, the report said.
The EV maker views the expanded network as a way to boost brand visibility and capture rising demand as South Africa gradually shifts to electric mobility, the report said, adding that the company now offers six models in the country, including three hybrids and electric SUVs.
Citing data from automotive industry body NAAMSA, Reuters said that NEV sales in South Africa more than doubled to 15,611 units in 2024 from 7,782 the year before. While NEVs still make up a small share of total car sales, BYD is aiming for an early lead, it added.
Despite challenges such as limited charging infrastructure, unreliable power supply, and high import duties, BYD sees South Africa as a long-term opportunity, according to the report.
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