The Chinese electric car manufacturer BYD wants to increase its presence in Germany and is therefore planning to restructure its sales. Specifically, this concerns the general importer, the Swedish Hedin Group.
BYD will take over the Hedin Group including management for a double-digit million amount, reports Handelsblatt.
Through the takeover, BYD would take control of sales itself and come into direct contact with car dealers.
While things are going very well for the Chinese electric car manufacturer BYD in its home country, business is stagnating in the most important European market. This is why BYD will take over sales in Germany itself and start the takeover of the general importer, the Swedish Hedin Group.
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BYD will adjust sales in Germany
As the “Handelsblatt” reports, citing negotiating circles, BYD is about to reorient its sales in Germany. The Chinese company is planning to set up its own national sales company. It is “a matter of days rather than weeks” until the crucial signatures are signed, an insider told the newspaper.
According to Handelsblatt, the Swedish Hedin Group is currently responsible for imports with a team of around 30 employees. The insider told Handelsblatt that BYD could take over the entire GmbH, including management and sales team. A double-digit million amount is being discussed, plus additional costs for the know-how.
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The takeover will enable BYD to contact German dealers and act as their point of contact instead of the general importer. The company already operates in a similar way in other European countries.
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