28 Oct 2020
Posted in Automotive
BYD eyes global success with new EV product and manufacturing platform, says GlobalData
Following the news that China-based electric vehicle (EV) maker BYD plans to launch new EV model and manufacturing platform next year;
Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading research and consulting company, offers his view:
“The move forms part of BYD’s strategy to emerge as a future leader in the electric mobility space. As the demand for affordable zero-emission vehicles get stronger globally, leading OEMs are striving hard to develop products and technologies that can make EVs, both passenger and commercial, more cost effective.
“The demand for EVs has been growing strong despite the turbulence created by the COVID-19 pandemic. In fact, some of the South Asian markets including China and South Korea remained resilient to the headwinds and the market witnessed increased sales, thanks to the demand incentive and effective charging infrastructure. Governments in countries such as Thailand, Indonesia and India are also laying significant efforts to meet their future electrification targets. This gives significant opportunities to automakers to respond to current market situation with competitive product and advanced technologies.
“BYD is among one of the leading EV makers with expertise and intellectual property in EVs, batteries, motors and electronic controls. The company also works in partnership with key global OEMs such as Volkswagen, Toyota and Honda to develop EV related product and technology.
“BYD already enjoys global leadership in the electric commercial vehicles segment. The new platform, if used for new passenger vehicle launch, will underpin the company’s growth in the electric personal mobility segment and bring it towards global success in electric mobility business.”