ATHENS – In a bid to expand its presence in Europe, China’s leading electric car maker BYD will begin selling its top-selling Atto 3 and Seal models in Greece, which offers subsidies to transition away from internal combustion vehicles.

BYD is “just getting started” in Europe, according to the region’s CEO, Michael Shu. After dominating its home market, BYD is taking its best-selling EVs overseas to challenge legacy automakers.

Although BYD began selling EVs in Europe in 2021 (in Norway), the company only sold 15,644 electric cars in the region in 2023, which global data collection firm Data Force said gave it just a 1.1% share of the market.

In an interview with Automotive News Europe, Shu said BYD is just learning “how Europeans respond” to the new tech, products, and services it offers, as the market is far different than in China.

Shu acknowledged that it will take time, but BYD aims to quintuple its market share, even before it begins producing vehicles at its Hungary plant, aiming for a 5% share in hopes more consumers will switch to electric cars.

The company’s European boss confirmed the plant will begin production in 2026 and will also build battery packs in Hungary to speed output, setting a goal of building 150,000 cars a year and doubling that if needed.

“It will be Europe for Europe,” Shu said, adding, “We will be closer to customers, offering faster deliveries, and people will trust us more.”

According to its Weibo page, BYD launched two new EVs in Greece as it expands the brand overseas, using Greece as a test market. In 2023, BYD’s Atto 3 was its best-selling EV in Europe, with 12,363 models sold. BYD’s Seal was fifth, with 284 vehicles sold, behind the Dolphin (1,079), Tang (1,055), and Han (849.)

The Atto 3 starts at $16,644 (€15,373) in China but in Europe, it’s more than double that, with base models at about $40,000 or €37,990, but the company said once the Hungary plant opens, it will be able to cut prices.