BYD $1211 (-0.87%) has entered the Cypriot passenger car market as the Chinese manufacturer of New Energy Vehicles (NEV) continues to expand in Europe.
As announced yesterday, the company officially entered the Cypriot market on May 28, launching four NEV models.
The four models are the electric SUV (Sport Utility Vehicle) Yuan Plus and Sealion 07 EV, the electric sedan Seal and the hybrid SUV Song Plus DM-i.
BYD officially entered the European passenger car market in September 2022 and has since become one of the most important NEV suppliers.
According to a report by market research firm Jato Dynamics at the end of last month, BYD registered 7,231 battery electric vehicles (BEVs) in Europe in April, overtaking Tesla for the first time, which registered 7,165 units.
The company sold 382,476 vehicles in May, an increase of 15.27 percent year-on-year and 0.63 percent month-on-month.
In May, BYD sold 89,047 NEVs overseas, setting a sales record for the sixth consecutive month. This represents a year-on-year increase of 137.46 percent and a month-on-month increase of 12.60 percent.
