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interface news reporter wei yongmeng

on august 31, european dealer group hedin mobility group announced that it had signed an agreement with byd to sell its subsidiary hedin electric mobility, the designated dealer of byd vehicles and spare parts in the german market, to byd.

the acquisition also includes the two stores in stuttgart and frankfurt currently operated by the hedin mobility group. therefore, byd will no longer rely on german importers in the future, but will directly contact local dealers and take more initiative in sales in germany.

the transaction is subject to regulatory approval and is expected to be completed in the fourth quarter of this year.

after the transaction is completed, the hedin mobility group's branch will remain byd's authorized retailer in germany, and its sales outlets in mannheim, kaiserslautern and saarbrücken will continue to be retained. in addition, in the swedish market, hedin mobility group will continue to operate as byd's importer and distributor.

hedin mobility group is a family-owned company headquartered in sweden, mainly involved in car dealership, construction and real estate, and investment sectors. the automotive business can be traced back to 1985. it has now developed into one of the largest car dealers in europe, with more than 330 self-operated stores in 12 countries and regions, and more than 40 brands as agents.

byd's collaboration with the hedin mobility group began in 2022, with the establishment of the subsidiary hedin electric mobility, which is responsible for the distribution of byd vehicles and spare parts in the german market, and is also the subject of this sale.

the main reason for byd's decision to acquire the company may be related to its weak sales in the german market. last year, byd registered 4,139 vehicles in germany, accounting for only 0.1% of the market share. in the first half of this year, byd sold 1,202 vehicles in germany, which is far from the original goal of selling 120,000 vehicles by 2026.

however, according to the latest sales data just released by byd, byd's total car sales from january to august reached 2.3284 million, a year-on-year increase of 29.92%. in terms of overseas markets, byd sold a total of 31,451 new energy passenger vehicles overseas in august this year, of which 30,451 were exported.

since the beginning of this year, byd has been continuously implementing its overseas expansion strategy and accelerating its globalization layout. in july this year, byd invested in acquiring part of the shares of a thai car dealer, and its factory in thailand was completed and put into production, with an annual production capacity of about 150,000 vehicles.

in addition, the 700th pure electric bus officially rolled off the production line and was delivered at byd's electric bus factory in hungary the day before yesterday; in addition to thailand and hungary, byd also has passenger car production bases in brazil, uzbekistan and other countries.