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After overtaking Tesla according to the results of the last quarter of 2023, the Chinese auto giant BYD and the new global leader in the sale of electric cars is intensifying its international expansion. The first cargo ship BYD Explorer No. 1, designed to transport Chinese electric cars abroad, is already on its way to Europe, Bloomberg reports.

BYD is coming

You can learn more about BYD’s achievements in 2023, the victory over Tesla, China’s dominance in the market of electric cars and “green” minerals, in particular, from the previous materials (1, 2 and 3). Let’s just remember that China is now the largest market for electric cars (sales of new electric cars will increase by 40% by 2022, to 7.74 million units, according to a December estimate by the China Association of Automobile Manufacturers) and in general exports more cars than any other country in 2023 exports reached 5.3 million with a total production volume of 21.7 million). In 2023, Ukrainians purchased more than 12,200 cars imported from China (82% more than in 2022), of which 81% were electric cars. BYD Song entered the top 5 most popular new electric cars in Ukraine.

The first BYD ship is headed for Europe.

In general, this is a rather significant event for the Chinese automotive industry: BYD Explorer No. 1 is the first vessel built by a Chinese shipyard and intended for the export of cars manufactured by Chinese enterprises. Built by China International Marine Containers Group (CIMC), the ship is 653 feet (199 meters) long and can carry 7,000 vehicles. The vessel should “provide BYD with fast delivery and expansion of international sales markets.”

On January 9, BYD’s first electric vehicle transporter arrived at the port of Yantai. His next stop will be Shenzhen, where the car will be loaded, and then he will go to Europe. The vessel is formally owned by Zodiac Maritime, and BYD has leased it as the first asset of its future marine fleet.

Scale and dominate

The world leader in sales of electric vehicles is rapidly expanding its presence in new markets — BYD has already become #1 in key developing markets such as Thailand, Brazil and Colombia. Also, the brand is growing rapidly in Mexico, Australia, India and some other countries. In the last two years alone, the company has established supply to approximately 60 countries and territories. And BYD continues its offensive, despite an EU anti-subsidy investigation that risks escalating into an EU trade war with China (meanwhile, Orbán allows the Chinese from BYD to build a second plant in Hungary), and US countermeasures to end China’s era of dominance in the green utility market fossils

In parallel with the expansion of logistics and production, BYD constantly updates and increases the model range of electric cars. Among the brand’s latest additions is this week’s unveiling of the Yangwang U7 premium electric sedan with more than 1,000 hp, challenging the Tesla Model S Plaid.

Take care, Tesla Model Y

Meanwhile, BYD has encroached on Tesla’s sacred place in the C-SUV segment – in a fairly short period of time, it has released several mid-size electric crossovers to compete with the current bestseller and the most popular car 2023 Tesla Model Y. Less than a month ago, BYD released the stylish Song L, which starts at 189 800 yuan ($27 thousand) with a range of up to 662 km. For comparison, the Tesla Model Y in China is currently offered at a price of 258,900 yuan ($36,300). According to Chinese research firm CarFans, the Song L garnered more than 8,000 orders in its first three days on the market.

A month earlier, BYD had unveiled the Sea Lion 07, another mid-size electric SUV created by former Audi and Lamborghini designer Wolfgang Egger.

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