China’s leading electric vehicle manufacturer, Build Your Dreams (BYD), is gearing up for a significant expansion into Rwanda, building on its successful foray into Kenya two years ago.
This strategic move aligns seamlessly with Rwanda’s commitment to sustainable development and provides BYD with a valuable opportunity to extend its range of electric models in the African market.
Making the announcement through an animated tweet, BYD expressed its enthusiasm to lead in innovation and environmental responsibility in Rwanda, “The country’s dedication to sustainable growth complements BYD’s vision for a greener future, making it an ideal market for the introduction of BYD’s stylish electric models.
BYD, after a remarkable year in 2023, concluded with record-breaking sales volumes exceeding its annual target of 3 million units. This outstanding performance solidifies BYD’s position in the New Energy Vehicle (NEV) sector, propelling the company into the global top 10 in car sales for the first time, reports state.
In its home market of China, BYD maintained its dominance as the top-selling car brand and manufacturer. Notably, December 2023 sales reached an impressive 341,043 units, marking a remarkable 45% increase. The overall sales for the year totaled 3,024,417 vehicles, showcasing a significant 61.9% growth compared to the previous year.
BYD’s expansion into Rwanda is part of its broader strategy for global growth and export expansion. In 2023, the company witnessed a substantial increase in its presence in international markets, with exports surging by 334.2% to a total of 242,765 units. Currently, BYD has a presence in 70 countries across six continents, supported by its technological expertise and commitment to delivering efficient and environmentally friendly mobility solutions.
The company’s success in the African market is evident through its partnerships and ventures. BasiGo, an early adopter of electric transit services in East Africa, operates BYD buses and expanded its services to Rwanda in response to the country’s fleet shortage in July 2023. In Kenya, Associated Vehicle Assemblers (AVA) announced plans to assemble 130 BYD electric vehicles in March 2023, while BasiGo partnered with AVA in January to assemble buses in Mombasa.
BYD’s entry into the South African market in July 2023 marked another milestone, with the launch of the Standard Range and Extended Range variants of its Atto 3 model. The company continued its expansion in November, extending its presence from the provinces of Gauteng and KwaZulu-Natal to the Northern Cape.