The Chinese electric car manufacturer BYD has announced that it will take control of its sales in Germany in the future. To this end, the company will take over the subsidiary Hedin Electric Mobility, previously BYD's general importer in Germany. The transaction, which is still subject to approval by the antitrust authorities, is expected to be completed by the end of the year.

The acquisition also includes two pioneer stores in Stuttgart and Frankfurt, which are currently operated by the Hedin Mobility Group. Despite the transfer, Hedin will continue to operate as an authorized BYD retailer in Germany, with sales locations in Mannheim, Kaiserslautern, and Saarbrücken. In addition, Hedin remains an important partner for BYD in the Swedish market.

Stella Li, Executive Vice President of BYD, emphasized in an official statement that the company is committed to fostering long-term partnerships and further expanding customer service and warranty support in Germany.

The background of this decision could be the rather disappointing sales figures in Germany so far. According to the Federal Motor Transport Authority, BYD sold fewer than 1,500 electric vehicles in Germany in the first seven months of this year. Last year, the number of new registrations was around 4,000.

Investors reacted negatively to the news: BYD shares fell by 3.34 percent to CNY 241.10 in Shenzhen on Monday.