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What major strategy will BYD adopt to circumvent European tariffs by end of 2025?
2
Resolution / Starting Odds
Focus on hybrid vehicles • 25%
Establish local manufacturing • 25%
Partnerships with European firms • 25%
Other strategies • 25%
Official announcements from BYD and industry analysis reports
Story
BYD Set to Outsell Ford and Honda in 2024, Eyes Europe with Hybrid Vehicles
Dec 9, 2024, 01:40 AM
Chinese electric vehicle (EV) manufacturer BYD Co. Ltd. is on track to surpass its 2024 sales goal of 4 million vehicles, with projections indicating it will outsell both Ford Motor Co. and Honda Motor Co. Ltd. this year. BYD has already sold 3.76 million EVs, nearly exceeding its annual target. The company's rapid growth is part of a broader trend where Chinese EV makers are expanding their presence in Europe, aiming to circumvent potential tariffs on electric vehicles by focusing on hybrid vehicles. This strategy comes as Beijing has advised Chinese manufacturers against seeking individual tariff deals with Europe, highlighting the urgency for these companies to establish a foothold in the market. Additionally, BYD has achieved a significant milestone by selling 1 million plugin vehicles in just two months.
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Similar markets
Diversification of supply chain • 25%
Decreased investments • 25%
No changes • 25%
Increased investments • 25%
Neutral • 25%
Oppose Tariff • 25%
No Comment • 25%
Support Tariff • 25%
Modifies operations significantly • 25%
Halts Brazil operations • 25%
Continues with new contractor • 25%
No significant changes • 25%
Currency devaluation • 25%
Negotiation and diplomacy • 25%
Export subsidies • 25%
Retaliatory tariffs • 25%
No significant move • 25%
New EV model launch • 25%
New EV production facility • 25%
Major EV partnership • 25%
No significant response • 25%
Increase prices • 25%
Lobby against decision • 25%
Other response • 25%
No significant response • 25%
Major industry pushback • 25%
Minor industry pushback • 25%
Positive industry response • 25%
South America (excluding Brazil) • 25%
Brazil • 25%
North America • 25%
Europe • 25%
Expansion into New Markets • 25%
Electric Vehicle Focus • 25%
Other • 25%
Cost-Cutting Measures • 25%