From CNBC:

Chinese electric vehicle manufacturer BYD launches the BYD Seal in Europe at the IAA auto show in Munich, Germany. The electric sedan starts at 44,900 euros ($48,479). The company also announced that it produced over 3 million new energy vehicles in 2023, surpassing Tesla’s production for a second straight year.

BYD’s competition in the electric car market is heating up as more companies flood the market with new models. Chinese smartphone maker Xiaomi detailed plans to launch an electric vehicle to compete with Porsche and Tesla. Li Auto is set to launch its first purely battery-powered vehicle, MEGA, and Xpeng launched its X9 MPV with deliveries starting immediately.

BYD is also expanding into overseas markets, with overseas sales in 2023 exceeding 242,000 new energy passenger vehicles. The company announced plans to build a new production center in Hungary and sells five models in Europe, with plans to launch three more in the next 12 months. BYD sold 36,095 new energy passenger vehicles overseas in December, more than triple the year-ago figure.



Read more: BYD produced more than 3 million cars in 2023, set to beat Tesla