(Reuters) – BYD (SZ:) will launch its new Atto 2 compact SUV in Europe in February, the Chinese EV giant said on Friday, adding to competition in Europe’s electric car market.
The Atto 2, which complements the larger Atto 3 released in 2022, is the group’s most accessible SUV yet and will compete in the B-SUV segment, a company spokesperson told Reuters.
WHY IT’S IMPORTANT
The launch comes two months after the European Union approved increased tariffs on Chinese-built electric vehicles (EVs), including BYD ones, of up to 45.3%.
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, the Kia Niro, and later this year Renault (EPA:)’s new R4.
BY THE NUMBERS
While the Atto 2 price will only be confirmed “in many countries in a few weeks’ time”, it should logically be between the Dolphin and Atto 3, the spokesperson told Reuters.
In Britain, the Dolphin starts at 26,140 pounds ($32,157) and the Atto 3 starts at 37,140 pounds ($45,689).
The all-electric Atto 2 will be 4.31 metres (14.14 feet) long, 1.83 metres wide and 1.68 metres tall, with a wheelbase of 2.62 metres, BYD said. It features a blade battery and uses cell-to-body (CTB) construction.
QUOTES
“We’re 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 course to top its annual sales target of 4 million vehicles globally, which would put it ahead of Japan’s Honda (NYSE:) and Detroit-based Ford (NYSE:) for 2024.
Europe’s car safety agency issued a “not recommended” rating to the driver assistance system used in BYD’s Atto 3 EV in October, dealing a blow to the automaker as it strives to expand on the continent.
($1 = 0.8129 pounds)
