Transportation
Chinese EV Maker BYD to Take Over Its German Distributor Hedin
- Transaction expected to close in fourth quarter, company says
- Chinese EV sales in Europe fall due to tariffs, weak demand
Electric vehicles on display at a BYD Co. sponsorship stand in Berlin.
Photographer: Liesa Johannssen/BloombergThis article is for subscribers only.
BYD Co. has agreed to buy German distributor Hedin Electric Mobility as Chinese electric-vehicle makers ramp up efforts to gain a foothold in Europe’s auto market.
The transaction with parent company Hedin Mobility, the Swedish dealership chain, is expected to close in the fourth quarter and includes a takeover of BYD’s flagship stores in Stuttgart and Frankfurt, the carmaker said Friday.