BYD (SHE:002594, HKG:1211) is revamping its European strategy after early stumbles, including a lack of local-market hires, weak dealer networks, and misjudging demand for hybrids, Reuters reported Wednesday.
Insiders said the electric vehicle giant is now aggressively recruiting top talent from rivals like Stellantis and expanding its hybrid lineup to better suit consumer preferences, according to the report.
Former Fiat-Chrysler executive Alfredo Altavilla, now advising BYD, said pushing only EVs was "stupid" in some markets, Reuters wrote. BYD now plans EV and hybrid launches for Europe.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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