Chinese carmaker's ambitious plan to become NZ's leading EV brand

Wednesday, 31 May 2023

BYD was recently named the fastest growing car company of 2022 by industry analytics group JATO.

BYD’s New Zealand stocks have quickly risen from total unknown to household name in very short time. Now, the brand is set to take on the best from Japan and Europe – hitching its ambitions to its growing range of electric vehicles.

At last week’s launch of the brand’s second new nameplate to the local market, the Dolphin, BYD brand manager Warren Willmot outlined the company’s lofty goals to become a lead player in the hatchback space and to become the number one electric car seller in New Zealand.

“BYD is changing the automotive landscape, and also the world. [The Dolphin] signals the tipping point of EV uptake and the end of Japanese dominance in the internal combustion engine small hatchback market,” said Willmot.

BYD New Zealand brand manager Warren Willmot speaks to dealers and press at the launch of the Dolphin.

“I imagine there are probably a few auto executives out there in Tokyo, Paris, Detroit, and Wolfsburg, who are starting to have nightmares right about now. Whereas, we are starting to put dreams in driveways.”

The launch of the Dolphin comes after the successful introduction of the Atto 3 in 2022, the first BYD sold in New Zealand and Australia. The Atto 3 has been a strong seller in New Zealand, becoming the best-selling EV in the country across Q1 of 2023.

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It has also achieved strong critical acclaim, earning the New Zealand Car of the Year title earlier this year, beating the likes of the Kia EV6, Mercedes-Benz EQS, Ford Everest, and Tesla Model Y.

Ford CEO Jim Farley believes Chinese brands like BYD are the Blue Oval’s biggest competition at the minute.

The Atto 3 and Dolphin will soon be joined by BYD’s third model; the Seal – a sleek sedan rival for the likes of the Tesla Model 3 and Hyundai Ioniq 6.

The expansion of BYD’s range will unfold as the brand expands its local footprint. In recent times, the brand has opened sites in Tauranga, Queenstown, Hawke’s Bay, and Northland, with more set to come.

“We’re just really getting started. [The launch of the Dolphin] is another domino that’s about to fall over, and that chain reaction of BYD being on New Zealand roads and being a volume supplier starts from now,” Willmot added.

“BYD will have an affordable vehicle for every segment in the coming months and years, this is not the last new car we’re going to launch.

“We will be the number one NEV manufacturer in New Zealand and also the world. And we will also introduce our super plug-in products starting next year.”

Willmot did not confirm which of BYD’s plug-in hybrid models are slated for local launch, but the recently face lifted BYD Tang is one of the most likely candidates – particularly given that it has already been offered in several other Western markets.

BYD’s rise has not gone unnoticed. Industry analytics firm JATO recently named BYD as the fastest growing car company of 2022, outranking Tesla.

The carmaker was also recently named by Ford CEO Jim Farley as one of a selection of companies that are taking market share hand over first from legacy carmakers.

Speaking at the recent Morgan Stanley Sustainable Finance Summit, Farley said that Chinese companies like BYD, SAIC, and Great Wall are currently Ford’s main competitors, as opposed to General Motors or Tesla.

“[Chinese carmakers] produce 70% of electric vehicles in the world in China, 70. And the winners are BYD, Geely, Changan, SAIC, Great Wall,” said Farley.

“To beat them, you either have to have a very distinct brand, which we think we do, or you have to beat them on cost. But how do you beat them on cost if their scale is five times yours? So, I don’t know.

“The Chinese are going to be the powerhouse, I think … we think. So, I think we see the Chinese as the main competitor, not GM or Toyota. […] The Europeans let them in. So, now they’re selling in high volume in Europe. We have a decision to make here in the U.S.”