BYD Co., Ltd., a leading Chinese electric vehicle manufacturer, has officially entered the Surinamese market with the launch of its first store in the country. The new store, situated in Paramaribo, the capital of Suriname, serves as BYD’s initial foray into South America, marking another significant milestone in the company’s global expansion strategy.
The store’s grand opening was attended by prominent figures, including Suriname’s Vice President Ronnie Brunswijk, signifying the importance of this development. To cater to the Surinamese market, BYD has introduced four of its popular models: the Dolphin, Seal, Yuan Plus, and Song Plus DM-i. These models represent BYD’s commitment to offering diverse options to meet the varied needs of customers in this emerging market.
The company’s move into Suriname aligns with its ambitious international expansion plans, aimed at capitalizing on the growing global demand for electric vehicles. This expansion is particularly relevant in South America, where Brazil is already a key market for BYD. The company recently celebrated the opening of its 100th dealer store in Brazil and aims to expand its network to 250 stores by the end of 2024.
BYD’s commitment to international expansion is further evidenced by its impressive sales figures. In August 2023, BYD set a new record with the sale of 373,083 new energy vehicles (NEVs), marking a 35.97% increase compared to the previous year. Notably, 31,451 of these NEVs were sold in international markets, showcasing a significant 25.69% year-on-year growth. From January to August, BYD sold 264,869 vehicles overseas, a remarkable 125.46% increase year-on-year, representing 11.38% of its total NEV sales.
BYD’s strategic shift towards electric vehicles is evident in its decision to cease production and sales of combustion engine vehicles in March 2022. This focus on plug-in hybrids and pure electric vehicles reflects the company’s commitment to sustainable mobility and its position as a leader in the global transition towards electric transportation.
