Aug 31, 2024 02:41 AM
BUSINESS
Chinese EV Maker BYD to Buy Out Its German Distributor Hedin
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Hedin Electric Mobility has acted as BYD’s general importer in Germany since 2022
(Bloomberg) — BYD Co. Ltd. has agreed to buy German car distributor Hedin Electric Mobility as Chinese electric vehicle (EV) makers increase efforts to gain a foothold in Europe.
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.
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