(Reuters) – BYD ( SZ: ) will launch its new Atto 2 compact SUV in Europe in February, the Chinese EV giant said on Friday, increasing competition in the European electric car market.
The Atto 2, which complements the larger Atto 3 due in 2022, is the group’s most affordable SUV to date and will compete in the B-SUV segment, a company spokesman told Reuters.
WHY IT’S IMPORTANT
The launch comes two months after the European Union approved a tariff increase of up to 45.3% on Chinese-made electric vehicles (EVs), including BYD.
The Atto 2 will compete in Europe’s so-called B-SUV segment of compact EV SUVs with rival models including Stellantis (NYSE:)’ Peugeot (OTC:) e-2008, Citroën e-C3, Opel Mokka-e and Fiat (BIT:) 600e, Kia Niro, and later this year Renault (EPA:) the new R4.
BY THE NUMBERS
While the price of the Atta 2 will not be confirmed until “in many countries in a few weeks”, logically it should be between the Dolphin and the Atta 3, a spokesperson told Reuters.
In Britain, the Dolphin starts at £26,140 ($32,157) and the Atto 3 starts at £37,140 ($45,689).
The all-electric Atto 2 will be 4.31 meters (14.14 feet) long, 1.83 meters wide and 1.68 meters tall, with a wheelbase of 2.62 meters, BYD said. It features a blade battery and uses cell-to-body (CTB) construction.
READ
“We are excited to start 2025 with another important model for our plans in Europe,” BYD executive vice president Stella Li said in a statement.
CONTEXT
BYD is on track to exceed its annual sales target of 4 million vehicles globally, which would put it ahead of Japan Honda (NYSE: ) and Detroit-based Ford (NYSE: ) by 2024.
The European Automobile Safety Agency gave the driving assistance system used in BYD’s Atto 3 EV a “not recommended” rating in October, dealing a blow to the automaker as it seeks to expand on the continent.
($1 = £0.8129)
